European Union: Issued Markets in Crypto Assets Regulation (MiCA) including authorization requirements by General Secretariat of the Council of the European Union
Description
Issued Markets in Crypto Assets Regulation (MiCA) including authorization requirements by General Secretariat of the Council of the European Union
On 5 October 2022, the General Secretariat of the Council of the European Union issued the text of the Markets in Crypto Assets Regulation (MiCA) that was agreed on 30 June 2022 following the European Parliament and the Council trialogue negotiations. The regulation will apply to crypto-asset issuers and crypto-asset service providers. According to the passed proposal, the issuers of crypto-assets will have to register with designated authorities in the Member State and obtain authorization to operate in the European Union. Furthermore, the issuers of crypto-assets will have to provide information regarding their capital, technical features of the digital good and their security protocols. MiCA now goes to the European Parliament and Council of the European Union for adoption.
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