Florida Governor and US Presidential candidate Ron DeSantis has unveiled a 'Declaration of Economic Independence' that outlines some of the biggest financial challenges America currently faces. The declaration focuses on improving Americans' financial well-being and reinforcing the United States as the most dominant economy. DeSantis also pledged to let the cryptocurrency industry thrive and not allow the launch of a central bank digital currency (CBDC).

DeSantis, running for #President from the Republican side, has been one of the most vocal crypto supporters among all the candidates. His declaration touches upon America's current issues and his propositions for solving them, including keeping taxes low, reducing inequality in society, making the cost of living more affordable, and limiting illegal immigration.

DeSantis vowed to #strengthen the US banking sector by requiring 'clear language disclosures of shadow banks to increase transparency and better track systemic risks.' He also promised to #replace Federal Reserve #Chairman Jerome #Powell with someone who will aim at 'maintaining a stable dollar instead of the political pressures of the day.' DeSantis pledged to work against the possible creation of a CBDC by blocking any attempts by the Fed in this field, while supporting the advancement of the cryptocurrency industry and ceasing the 'politically driven debanking and financial doxing.'

Earlier this summer, DeSantis criticized President Joe Biden for waging a 'war on Bitcoin' and promised to end this hostile approach should he become the next political leader of the nation. He previously argued that the only reason why the government is against the crypto sector is because they cannot control it.

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- **MiCA Introduces Unified Regulatory Framework**: Verena Ross, #Chairman of the European Securities and Markets Authority, highlighted the introduction of the Markets in Crypto-assets (MiCA) framework in the EU. MiCA aims to establish a consistent regulatory #framework for #cryptoassets not covered by existing financial services regulations.

- **Replacing Heterogeneous System**: MiCA aims to replace the current diverse regulatory landscape across EU member countries with a more standardized and mature set of regulations, providing clarity for businesses and investors.

- **Key Provisions**: MiCA targets entities involved in issuing cryptoassets, providing cryptoasset trading, #investment advice, custody services, and more. It outlines authorization and governance requirements for crypto asset service providers, disclosure requirements for #crypto products, and measures to uphold the integrity of the crypto market.

- **Consumer Protection and Market Integrity**: The framework is designed to enhance consumer protection, market integrity, and financial stability. It sets standards to ensure that crypto assets are offered and traded in a secure and transparent environment.

- **Important Caveat for Consumers**: While MiCA brings regulatory clarity and safeguards, it's important to note that crypto assets do not carry the same protections as traditional financial products. Consumers should understand that no crypto asset is inherently "safe," and due diligence is necessary before investing or engaging with such assets.

MiCA represents a significant step toward establishing a more structured and secure environment for crypto assets within the EU, addressing regulatory gaps and bolstering consumer confidence.

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