This week the EU’s crypto legislation MiCA was formerly signed into law. A recently published EU Parliamentary report explores the potential for the next iteration of MiCA. It makes several suggestions that would be considered controversial for the crypto community.
These include:
The paper outlines two areas it considers still unclear under MiCA. One is the classification of crypto as either a crypto asset under MiCA or a financial instrument under MiFID. The other issue is the regulation of decentralized Finance (DeFi) because MiCA does not cover decentralized protocols.
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