● EU Parliament approves MiCA regulation
The European Parliament approved the first EU-wide cryptocurrency regulation (MiCA), and European Financial Services Commissioner Mairead McGuinness said on Wednesday that she expects the legislation to take effect after formal approval by the 27 EU member states. Specific requirements will take effect gradually. For example, the rules governing stablecoins will apply from July 2024. (Bloomberg)
● CZ: Ready to adjust business to comply with MiCA regulations in the next 12-18 months
Binance founder and CEO Changpeng Zhao (CZ) tweeted, “The European Parliament voted in favor of implementing MiCA. This means that one of the world’s largest markets is introducing tailored crypto regulations to protect users and support innovation. Details are important, but overall we think this is a pragmatic solution to the challenges we all face. There are now clear rules of the game for cryptocurrency exchanges operating in the EU. We are ready to adapt our business over the next 12-18 months to make it fully compliant.”
● The U.S. Senate and House of Representatives began to jointly formulate new market structure rules around digital assets
The U.S. House of Representatives and Senate have begun working together on a bill to establish new market structure rules around digital assets. The bill is being carried out in parallel with another regulatory initiative aimed at advancing a bipartisan framework for stablecoins. (The Block)
● SpaceX Starship launch failed
SpaceX Starship launch failed and exploded in the air.
● Fed's Mester: Support another rate hike, but need to act with caution
Fed's Mester said she supports another rate hike, but she needs to be cautious. She supports raising interest rates above 5%, but inflation is still too high, and it has been proven that inflation is stubborn. (Jinshi)