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FTX collapse, Binance’s US settlement provide strong case for MiCA regulations

Published 11/23/2023, 04:41 AM
Updated 11/23/2023, 03:40 PM

The collapse of FTX in 2022 and Binance’s recent $4.3-billion settlement with United States authorities provide a strong argument for the provisions of the European Union’s Markets in Crypto-Assets (MiCA) legislation, a European Commission official said in an interview.

Ivan Keller, policy officer for the European Commission, spoke to Cointelegraph at the MoneyLIVE conference in Amsterdam. News of Binance’s high-profile settlement with the U.S. Department of Justice (DOJ) broke the night before Keller’s keynote and served as a pertinent reflection point for MiCA’s full-scale application in 2024.

A timeline of MiCA’s implementation through 2024. Source: Ivan Keller

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