Will MiCA's introduction unlock many opportunities within the European market?
Markets in Crypto Assets is being hailed as the world’s first comprehensive set of rules that aims to bring the largely unregulated cryptocurrency markets under government regulation.
Several experts have weighed on how MiCA could shape the regulatory landscape in the broader crypto industry. As for end-users, Laura Chaput, head of regulatory compliance at Brussels-based market-maker Keyrock, said that rules on governance will increase transparency, rules on stablecoins issuers will offer more “confidence that their tokens are properly reserved and redeemable, and safeguards against market manipulation will increase market integrity.”
Hence, it is safe to say that obtaining authorization under the regulatory regime will not be an easy task, and ongoing controls exercised by competent authorities will generate substantial and recurring compliance activity by the crypto service providers.“MiCA is broadly aligned with the EU’s existing Market Abuse Regulation , which applies to securities and derivatives.
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