EU is about to write a new decisive chapter.
1 min read
The rules regarding Crypto-Asset Markets (MiCA) are on the horizon, promising a series of profound changes for the cryptocurrency business.
The European Securities and Markets Authority (ESMA) is preparing to clarify the implementation framework of the new MiCA rules, as announced on its official website.
In July, a consultation is scheduled to discuss the complaint handling procedures and conflict of interest rules that crypto companies will have to follow.
The implementation of these new regulations will be detailed next month by ESMA. This will include the forms and notifications that existing companies and funds must comply with to offer their services within the Union.
After these initial steps, a second series of consultations will take place in October. It will address the disclosure of environmental impacts and may also include issues of transaction transparency and governance.
Finally, a third series of consultations, expected to begin in early 2024, will focus on market abuses and investor protection. This phase could mark a major turning point in the regulatory landscape of the European crypto sphere.
These initial steps mark the beginning of the implementation of the new regulations. As a result, the crypto industry is preparing for a series of major changes. ESMA is in the process of clarifying the framework for these new rules.
submitted by /u/chumeanbro
[link] [comments]
