Ripple, Hedera, and Aptos Foundation have become founder members of the MiCA Crypto Alliance.
According to a DLT Science Foundation post, this cooperation, which has the organization’s support, intends to assist cryptocurrency companies in better navigating new rules in the European Union, namely the Markets in Crypto Assets regulation.
Aptos Labs, Hedera, and Ripple have teamed up to promote blockchain innovation and increase transparency.
This effort is also supported by the DLT Science Foundation, which intends to collaborate closely with companies and developers to promote a sustainable and law-abiding future for cryptocurrencies.Â
MiCA Regulations
The EU’s larger initiative to establish a secure and creative digital asset environment includes the MiCA regulation.
It mandates that CASPs release information on how climate change affects their business operations. To maintain sustainability and openness, this legislation requires service providers—including centralized exchanges—to provide stringent disclosures.
However, the absence of a defined methodology makes achieving these standards difficult for many businesses.Â
In an effort to solve this, the MiCA Crypto Alliance provides members with access to cutting-edge solutions that simplify compliance.
DLT claims that these technologies will help with white paper production and sustainability assessments, making it simpler for businesses to adhere to the necessary criteria.
For those unfamiliar with the technical details, MiCA is a collection of guidelines designed to increase transparency in the cryptocurrency industry.
The Markets in Crypto Assets law ensures that crypto companies operate fairly, just as traditional financial systems are required to.
The alliance assists businesses in adhering to these new standards without being intimidated by the intricacy of crypto-specific laws by providing tools and resources.
Members of the MiCA Crypto Alliance will receive technical assistance and strategic direction from the DLT Science Foundation, which will aid in their adaptation to the changing regulatory landscape.
