Once again this year, we would like to sweeten the Advent season for our readers with an Advent calendar. In a slightly different form, each door contains a “knowledge bomb”, which will be supplemented with an extraordinary special prize on Christmas Day.
Behind the twenty-first door is the term “MiCA”. To enter the giveaway on the 24th, simply take part in the polls and like the respective Twitter posts.
Markets in Crypto-Assets (MiCA)
Blockchain technology is one of the innovations with a disruptive potential to reshape our digital everyday life and quite a few business areas. After the Internet giants that emerged around the Web2 were invariably formed in the States, the EU does not want to be left behind in the development of the Web3. To promote innovation in the sector, the European Council this year adopted a single legal framework for digital assets to be applied in all 27 member states.
Some landmark regulations have already been introduced in the U.S., and President Biden made the case for overarching overall regulation of digital assets with an Executive Order issued in March. With the introduction of the Markets in Crypto-Assets (MiCA) bill, the EU Parliament aims to present for the first time the necessary legal certainty that industry representatives have long craved. Although effective implementation is not expected until 2024, the bill took a major step forward with its adoption in the European Council.
