Markets In Crypto Assets (MiCA) Regulations And It’s Limitations

Well looking at crypto regulation which at some point in the crypto space has been a trending topic has there have been some agitations due to the several collapse which we witness the past year from crypto projects and exchanges.

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The new set of crypto regulations which is known as “MiCA” which simply means Markets in crypto Asset which is spare head by the European law makers.

The final vote to be cast has been deferred to a couple of months from now, which to be exact April. The reason for the setback is said to be technical, and if this successful pulls through it becomes the first comprehensive crypto framework.

The set of rules which is scheduled to be released middle of the 2024, I understand these set of regulations won’t be cast on stone as it will be reviewed; revisited in intervals.

From finding it seems “Defi” decentralized finance is off the radar for these set of rules, the move has gotten some backlash from Jeffrey Blockinger which he says that lack some organizational and technological forms which he gave a scenario of If DeFi protocols disrupt the major centralized exchanges as a result of a broad loss of confidence in their business model, new rules could be proposed to address everything from money laundering to customer protection.

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