What Is MiCA And How Is It Affecting The European Parliament’s Vote On Encryption Bill?
According to reports, CoinDesk quoted insiders as saying that the final vote of the European Parliament on the encryption bill MiCA is expected to be postponed to April 20. A docum
According to reports, CoinDesk quoted insiders as saying that the final vote of the European Parliament on the encryption bill MiCA is expected to be postponed to April 20. A document released on Wednesday showed that only one expected amendment had been submitted before the crucial final vote.
The final vote of the European Parliament on the encryption bill MiCA is expected to be postponed to April 20
The European Union is reviewing its proposed legislation regarding the use of digital currency and cryptosystems, namely the MiCA (Markets in Crypto Assets) regulation. The primary goal of this legislation is to impose a comprehensive framework for the use of digital currencies in exchange, trade, and any other transaction method.
What Is The MiCA And How Will It Affect Digital Currency Transactions?
MiCA’s primary objective is to create an overarching regulatory framework for the issuance and accessing of cryptocurrencies within the European Union. The MiCA’s proposed registration and licensing structure will oblige companies to operate in compliance with established regulatory requirements, such as higher standards of capital, custodian requirements, and reporting standards.
It also requires that cryptocurrency-linked providers and related services to obtain a single passport for provision of their services across multiple states within the European Union. This makes it mandatory for all service providers to implement measures aimed at increasing transparency while providing a high level of security for clients.
However, it is important to note that this legislation is subject to review and modification, as expected when a new regulatory framework is created. It is therefore vital to stay updated on any upcoming developments.
What Is The Status of the European Parliament’s Vote on the Encryption Bill?
Recently, reports have been circulating regarding the possible postponement of the final vote on the encryption bill until April 20th, 2022. According to insiders quoted in a CoinDesk article, the reports suggest that a document released recently shows that only one expected amendment has been submitted before the crucial final vote.
If this postponement occurs, it will give European Union Parliament members more time to study the MiCA regulation proposals and provide further insights into the industry’s standard practices. This will help to ensure that the final outcome of this proposed legislation will meet the objectives of all parties involved.
The Impact of MiCA On The Cryptocurrency Industry
The proposed MiCA regulation aims at creating a better and safer environment for investors, traders, and cryptocurrency consumers. It will eliminate regulatory obstacles as the regulatory framework will operate uniformly across the European Union. This makes digital currencies, and other crypto-related projects more accessible and enhances their reliability.
It is expected that, by enhancing the level of investor confidence, the adoption rates of digital currencies across the European Union will inevitably increase. Additionally, the uniform regulations will create ideal conditions for the growth of digital currencies.
Conclusion
The final word on the MiCA regulation has been postponed until April 20th, 2022, according to reports from insiders. The proposed regulation seeks to provide a regulatory framework aimed at creating better and safer environments for investors, traders, and cryptocurrency users. Without a doubt, when the new regulation is ratified, there will be significant implications for the cryptocurrency industry.
FAQs
1. What is MiCA?
– MiCA stands for Markets in Crypto Assets. It is a proposed legislation in the European Union that regulates the use and handling of digital currencies.
2. What is the status of the European Parliament’s vote on miCA?
– According to reports, the final vote on miCA in the European Parliament is expected to be postponed until April 20, 2022.
3. What will be the impact of miCA on the cryptocurrency industry?
– The proposed MiCA regulation aims at creating uniform and safer conditions for investors, traders, and cryptocurrency consumers. It is anticipated that this will improve investor confidence in the industry and increase the adoption of digital currencies across the European Union.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/14931.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Euler Finance DeFi Protocol Hacked for $190 Million
On March 13, the independent analyst CIA Office said on Twitter that according to the monitoring of the security team BlockSec, the DeFi loan agreement Euler Finance was suspected to have been attacked. At present, 8.89 million DAIs and 8080 WETHs have been stolen. The latest data on the chain shows that the attack seems to be continuing, with a total loss of more than 190 million dollars. Euler Finance is suspected to have been attacked, and 8.89 million DAIs and 8080 WETHs were stolen Analysis based on this information:The decentralized finance (DeFi) sector is one of the fastest-growing areas within the crypto ecosystem with various protocols offering lending and borrowing services. However, this sector is also quite notorious for its vulnerability to cyberattacks, and the latest victim is Euler Finance, a loan agreement protocol. The company has been reportedly hacked, leading to the loss of more than $190 million as of the latest data on the chain. On March…
-
Character. AI completed a $150 million financing with a valuation of $1 billion, with a16z leading the investment
On March 24th, a generative AI startup, Character.AI, announced that it had completed a $150 million financing at a valuation of $1 billion, with a16z leading the investment and fo
-
What are the costs of renting mining machines for mining (what is renting mining machines all about)?
What are the costs of renting mining machines for mining? On August 9th, Antmin
-
Ethereum Foundation’s Next Billion Fellowship
It is reported that EF Next Billion, the team of the Ethereum Foundation, announced that it will start the Next Billion Fellowship cohort 3 bonus plan in June. The bonus plan is aimed at project changers, visionaries, pragmatists, and creatives on Ethereum, and aims to help improve the lives of billions of people. Eligible applicants will receive guidance from relevant experts, resources and financial support from the Ethereum Foundation and the Ethereum community. Users can currently submit applications by April 28th. The Ethereum Foundation team EF Next Billion will launch a bonus plan in June Analysis based on this information:The Ethereum Foundation’s Next Billion Fellowship has announced its third bonus plan, which will start in June. The bonus plan targets project changers, visionaries, pragmatists, and creatives on Ethereum. The aim is to empower individuals and teams to create projects related to Ethereum that can improve the lives of billions of people. This fellowship is a unique opportunity for those who…
-
Twelve Hours In Shanghai: Exploring The Franklin and Standard Chartered Bank
12: 00-21:00 Keywords: Shanghai, Franklin, India, Standard Chartered Bank
Important updates on the evening of April 24th
If you have 12 hours in Shanghai, there is no way you can m -
Drop in Ethereum Verifiers’ Participation Raises Questions over Network Health
On March 18th, according to Glassnode data, the number of voluntary exits by Ethereum verifiers reached 183 on March 16th, setting the second highest record since the merger. Voluntary exits refer to verifiers choosing to stop participating in the consensus and leave the verifier pool queue. They will no longer propose or prove blocks, and they will not be able to withdraw the previously pledged ETH after the upgrade in Shanghai. （cryptoslate） Data: On March 16th, 183 Ethereum verifiers voluntarily withdrew, setting the second highest record since the merger Analysis based on this information:The recent data from Glassnode has brought the issue of Ethereum verifiers’ participation to the limelight. As per the data, the number of voluntary exits by Ethereum verifiers has reached an alarming high of 183 on March 16th. It is the second-highest record since the merger, and it is a cause of concern for network health. Verifiers are the ones who participate in the consensus by proposing…
-
What are the currencies of BSV and BCH respectively (is BSV currency worth investing in)
what are bsv and bch respectively Bitcoin Cash cash (BCH) and bitcoin SV respectively? On July 14, 2014, the developers of BSV Network decided to upgrade the protocol to a new forked version. In order to support this new model and other developments, the Bitcoin ABC team has created a new blockchain called Bitcash. org, which utilizes encryption technology to change the network architecture of Bitcoin, reduce transaction fees, increase consensus algorithms, and more. But over time, these codes have been modified and updated According to the introduction on Bitcoin Ash website, Bitcoin SV is an open source currency based on the Ethereum blockchain, which aims to issue a new digital asset (code name BTC-e) powered by the software company Blockstream Is bsv coin worth investing This information was proposed after in-depth understanding of Bsv by Chen Weixing, the founder of BSV, and Zhao Dong, a member of the BSV community. According to the white paper, the main purpose of…
-
Positive Outlook for Blockchain Sector and Digital Currencies
According to the news, the A-share closed with the Shanghai Composite Index at 3312.35, up 1%, the Shenzhen Composite Index at 11914.32, up 1.11%, and the Shen…
-
**LayerZero Full Chain Interoperability Protocol Officially Launched on Polygon zkEVM**
It is reported that LayerZero, the full chain interoperability protocol, has been officially launched on the main network of Polygon zkEVM and will continue to seek to introduce La
-
MetaMask’s Latest Update Allows for Easy Transactions of ERC-721 and ERC-1155 Tokens
On April 5th, MetaMask announced that in the latest version of the extension, all ERC-721 and 1155 tokens will appear as long as automatic NFT detection is enabled. Through this up