The vote on the MiCA bill has been postponed twice from November 2022. But it was finally carried out on April 20. The bill thus adopted aims to create a better regulatory framework for cryptos within the EU. Find out how crypto industry leaders reacted to the adoption of the MiCA regulation.
Crypto players congratulate the EU and look up at the United States!
After several months of delay, the MiCA regulation is adopted, which marks a milestone for the European crypto industry. Many industry leaders have reacted positively to this adoption. For example, Changpeng Zhao, CEO of Binance, said, “ Overall, we believe this is a pragmatic solution to the challenges we collectively face. “. ” There are now clear rules of the game for crypto exchanges in the EU remarked CZ.
The CEO of Binance has indicated that changes will be implemented on the exchange in the next 18 months. CZ thus wishes to bring its company in line with the potential new framework. At the same time, Coinbase suggested that MiCA regulation will encourage crypto project promoters to come and settle in Europe.
The State of Crypto Regulations in the United States and the Digital Euro
Several players mentioned the state of the regulatory framework in the United States by commenting on the adoption of the MiCA regulation. For example, Tyler Winklevoss, co-founder of the crypto exchange Gemini, has explained : “ As U.S. Regulators Infight and Refuse to Provide Utmost Clarity to the Crypto Sector, the European Union Just Approved the MiCA Regulation “.
Tyler Winklevoss clarified that the MiCA regulations “ provides a comprehensive regulatory framework for cryptos in Europe “. He then added: It is sad to see that the United States is lagging behind such important technology and its promise. “.
The adoption of the MiCA regulation comes in a context where the digital euro project is at the heart of the debates. A recent report by the European Parliament’s Committee on Economic and Monetary Affairs drew a mixed picture on the subject. It appears that the digital euro is not ready for launch. The report suggests that the ECB should further explore the possibility of implementing this digital currency. Also, it should continue the test phase of the European CBDC.
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