According to Odaily, as the Markets in Crypto Assets (MiCA) framework nears its first deadline, EU market regulators and crypto platforms are set to expel stablecoins that do not meet reserve requirements, governance rules, and safeguard measures. In response to this, the European Banking Authority is recruiting crypto experts to oversee the implementation of crypto and cybersecurity laws.
The MiCA framework, a regulatory structure for the crypto asset market, is nearing its initial deadline. This has prompted action from EU market regulators and crypto platforms. They are preparing to expel any stablecoins that fail to comply with the necessary reserve requirements, governance rules, and safeguard measures. These measures are crucial to ensure the stability and security of the crypto market.
In a move to ensure effective implementation of these regulations, the European Banking Authority is actively recruiting crypto experts. These experts will be responsible for overseeing the enforcement of crypto and cybersecurity laws. Their role will be pivotal in maintaining the integrity of the crypto market within the EU, ensuring that all active stablecoins adhere to the set regulations.
