{"id":51653,"date":"2023-06-09T09:00:03","date_gmt":"2023-06-09T13:00:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=51653"},"modified":"2023-06-09T09:00:05","modified_gmt":"2023-06-09T13:00:05","slug":"mica-features-on-eu-official-journal","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mica-features-on-eu-official-journal\/","title":{"rendered":"MiCA Features on EU Official Journal"},"content":{"rendered":"\n

Markets in Crypto-Assets<\/a> (MiCA) legislation, the regulatory framework for crypto assets among EU member states, was published in the Official Journal of the European Union (OJEU) on June 9. Marking its countdown to implementation on December 30, 2024.<\/p>\n\n\n\n

\"MiCA
MiCA Features on EU Official Journal<\/figcaption><\/figure>\n\n\n\n

The regulations, signed into law on May 31 after their initial introduction in 2020, seek to establish a uniform regulatory framework for crypto assets<\/a> across the European Union member states.<\/p>\n\n\n\n

While the rules officially take effect within twenty days of publication, they will begin to be implemented on December 30, 2024, with specific provisions of the legislation taking effect six months earlier, on June 30, 2024.<\/p>\n\n\n\n

Cryptocurrency service providers and proponents alike have praised the legislation for creating a unified regulatory environment and operating procedures across the European Union.<\/p>\n\n\n\n

The MiCA legislation includes registration and authorization requirements for cryptocurrency issuers, exchanges, and wallet providers as key components.<\/p>\n\n\n\n

According to the rules, stablecoin issuers must comply with specific security and risk mitigation requirements. At the same time, cryptocurrency custody services\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> must implement adequate security and safety measures to address potential cyber and operational malfunctions.<\/p>\n\n\n\n

In addition, the legislation provides a framework for preventing market manipulation, insider trading, and market abuse in the cryptocurrency space.<\/p>\n\n\n\n

In the interim, crypto markets and operators in the United States are under duress due to the Securities and Exchange Commission's regulatory action against Binance and Coinbase. <\/p>\n\n\n\n

Both exchanges are being sued on multiple counts, including offering unregistered securities<\/a> and failing to register as licensed brokers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Markets in Crypto-Assets (MiCA) legislation, the regulatory framework for crypto assets among EU member states, was published in the Official Journal of the European Union (OJEU) on June 9. Marking its countdown to implementation on December 30, 2024. The regulations, signed into law on May 31 after their initial introduction in 2020, seek to establish […]<\/p>\n","protected":false},"author":12,"featured_media":51677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1995,1332,5514,14800],"class_list":["post-51653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-assets-2","tag-eu","tag-mica","tag-ojeu"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/MI.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/51653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=51653"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/51653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/51677"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=51653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=51653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=51653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}