#mica

New EU regulations on crypto assets, set to take effect in a few days, are already reshaping the stablecoin market. Many European crypto exchanges are delisting USDT to comply with MiCA requirements, leaving investors searching for alternative stable assets.

Tether, the issuer behind USDT, has invested in StablR, a European stablecoin provider, as MiCA regulations loom. The move coincides with Tether’s decision to phase out its euro-pegged stablecoin EURT.

Paolo Ardoino, CEO of Tether, voiced apprehensions about Europe’s MiCA regulation (Markets in Crypto Assets), which he believes could pose substantial risks to stablecoin issuers.

In response to the MiCA regulations that took effect in the EU on July 1, 2024, Tether has revealed it’s working on a game-changing solution, specifically created for the European market. This bold move comes as Coinbase sets strict deadlines for compliance, with rumors swirling about a possible delisting of USDT within the European Economic Area.

On July 1, at a press conference in Paris, Circle announced that its stablecoins, USDC and EURC, now adhere fully to the European Union’s Markets in Crypto-Assets (MiCA) regulations.

European Securities and Markets Authority (ESMA) published drafted regulatory guidelines under the MICA framework.

The Spanish government has announced its intention to adopt the European Union's comprehensive crypto framework (MiCA) at the national level, moving up the implementation timeline by six months. This expedited schedule is driven by the need to establish legal clarity and enhance investor protection in the cryptocurrency sector, as stated by the country’s officials.

With the MiCA (Markets in Crypto-Assets) framework coming into effect, the European crypto market is seeing profound changes. A joint study by Kaiko and Bitvavo highlights rising euro trading volumes and a reshaped stablecoin market landscape.

Schuman Financial steps into the stablecoin arena with EURØP, a euro-backed token designed to comply with MiCA regulations and offer unmatched transparency.

Coinbase, the world’s second-largest cryptocurrency exchange by trading volume, announced it will delist all stablecoins that do not meet the MiCA regulations set by European authorities. Among those at risk is USDT, the leading stablecoin issued by Tether Holdings Ltd.

These new tokens are designed to circumvent the upcoming European Markets in Crypto-Assets Regulation (MiCA), effective June 30, 2024.

Cryptocurrency exchange Binance faces the risk of losing access to the European Union market if French regulators reject the company's application for registration under the new MiCa legislation. A major reason for this could be that Changpeng Zhao (CZ) is the sole owner of the French branch, holding 100% of its shares.

The European Securities and Markets Authority (ESMA) has published its first final report on the regulatory framework for the crypto market under the Markets in Crypto-Assets Regulation (MiCA). This document presents ESMA's recommendations regarding the criteria for the proper registration of crypto service providers and the procedure for handling complaints. The report has now been submitted to the European Commission, with ESMA set to assist the government in implementing these recommendations as a consultant.

The European Securities and Markets Authority (ESMA) has stated that the crypto market regulation, known as Markets in Crypto-Assets (MiCA), won't be in place until December 2024 at the earliest.

The company cites its inability to comply with regulatory requirements as the reason behind this move, but it also states its intention to return to the Dutch market once it has aligned its business with the new MiCA regulations.