Crypto: Home stretch for MiCA settlement

This year, the European Union has conducted several studies to protect crypto investors from the risks associated with this industry. She proposed a sweeping bill that covers the entire crypto industry, including NFTs. Officials of the European Parliament voted 28 to 1 in favor of this project which aims to better regulate the crypto markets. While a final vote is being prepared before the deployment of the MiCA regulations, we discover that they contain clauses that could affect influencers in the new industry.

Does the MiCA regulation target crypto influencers?

Finalized in September, the MiCA Regulations are a series of sweeping regulations on the cryptocurrency industry. The European Union is preparing to deploy this regulation through a final vote. For crypto analysts, MiCA could curb the adoption of cryptos around the world, and especially in Europe.

However, regulators believe that this regulation will help fight money laundering in the new industry. While we thought that the series of regulations only concerns digital assets, it appears that it contains clauses, in fine print, that affect crypto influencers.

Indeed, Circle’s Director of European Strategy and Policy has warned crypto influencers, this 1er November through a Twitter post. Patrick Hansen said:Beware of cryptocurrency influencers: commenting on these assets in social media without disclosure and profiting from the effects of this will be considered market manipulation in the EU once MiCA is in force“.

Influencers in the sights of the European authorities

Regulations whose management remains unclear

According to European regulators, the MiCA regulation is a step forward that will make European Union countries more attractive. In this regard, the rapporteur for the MiCA Regulation Stefan Berger has declared : “If Europe wants to be a big player in the crypto sector, we need this regulation to create trust, to create companies that innovate in this whole sphere“.

Trust, a key factor

But, the monitoring and enforcement mode from MiCA regulation is not yet clear. In this context, not all crypto players have real confidence in this series of regulations. Many are convinced that this will make things more difficult for crypto.

The MiCA regulation exists to protect consumers from crypto-related risks. But, for many analysts, it will above all prevent crypto players from fully contributing to the development of the sector.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts