WHAT IS THE MiCA REGULATION?

Source: Google

The MiCA regulation, or Regulation (EU) 2023/1114, is a European legislation that regulates crypto assets and will come into effect on December 30, 2024. Its objective is to establish a unified legal framework for crypto assets in the European Union, in order to: Protect consumers and market participants, Prevent market abuse, Foster technological innovation, Ensure financial stability.

The MiCA regulation covers a wide range of crypto assets, such as cryptocurrencies, stablecoins, and utility tokens. Among its specific rules are:

Measures to prevent and prohibit market abuse

Definition of the competencies and functions of national authorities

Requirement for a license to operate in the region

The MiCA regulation also includes a "MiCA passport," which allows authorized cryptocurrency companies in one EU country to operate in another.