3 takeaways from the European Union's MiCA regulations By Cointelegraph

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3 takeaways from the European Union's MiCA regulations

Published May 10, 2023 06:41PM ET Updated May 10, 2023 08:20PM ET

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3 takeaways from the European Union's MiCA regulations

The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations and harmonized rules at the EU level.

MiCA may ultimately stifle innovation, impose a one-size-fits-all approach to regulation for decentralized finance (DeFi), increase compliance costs for decentralized exchanges (DEXs) and DeFi platforms, raise privacy concerns, and necessitate collaboration between the crypto industry and regulators to strike a balance between regulation and innovation.

Guneet Kaur joined Cointelegraph as an editor in 2021. She holds a Master of Science in financial technology from the University of Stirling and an MBA from India’s Guru Nanak Dev University.

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