The European Union has announced new regulations for classifying digital assets and cryptocurrencies under the Markets in Crypto-Assets Regulation (MiCA).
Released on July 12 by the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA), these guidelines aim to standardize how various crypto-assets are categorized.
The new framework includes a series of questions to determine whether a token should be classified under MiCA or another category like e-money tokens (EMTs) or asset-referenced tokens (ARTs).
Issuers must provide detailed legal opinions to clarify their tokens’ classifications.
Feedback on these guidelines is invited until mid-October, with a virtual hearing scheduled for September 23.
The first MiCA regulations on stablecoins took effect on June 30, and further regulations are expected by December 2024. Circle has already ensured its stablecoins, USDC and EURC, meet MiCA standards.
The Capital Markets Board (CMB) has introduced a new set of regulations for the cryptocurrency sector, effective immediately following amendments to the Capital Markets Law No. 7518.
Anthony Scaramucci, founder of SkyBridge Capital, announced that Vice President Kamala Harris is working on her campaign’s cryptocurrency policies, with support from crypto advocates.
U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.
Former senior officials from the U.S. Securities and Exchange Commission (SEC) are preparing to testify at a congressional hearing scrutinizing the agency’s approach to regulating cryptocurrencies.