Italy is strengthening controls over cryptocurrency markets as part of its compliance with the EU's Markets in Crypto-Assets (MiCA) regulatory framework 🇮🇹. The new rules are aimed at combating insider trading and market manipulation. Fines range from 5 thousand to 5 million euros.
MiCA forces blockchain companies to make difficult decisions. Fully decentralized networks are exempt from MiCA obligations, but risk violating the definition of a sufficiently decentralized network.
Binance is moving to a model that separates stablecoins into authorized and unauthorized, in accordance with MiCA. Uphold announced the exclusion of six stablecoins, including Tether (USDT) and Dai (DAI), to comply with the new requirements.
Despite regulatory pressure, experts are confident in the bright future of stablecoins.