"EU Crypto Industry Anticipates Future Regulations After MiCA Approval"

The EU's approval of the Markets in Crypto Assets (MiCA) regulation has been welcomed by the crypto industry, with many seeing it as a positive step towards protecting consumers and ensuring financial stability. MiCA requires exchanges and wallet providers to obtain a license and stablecoin issuers to hold appropriate reserves. However, attention now turns to the details that need to be filled in, including the 12-18 month transition period and the drafting of implementing measures by EU agencies. The law will be enforced by individual national regulators in the bloc’s 27 member states, and some are concerned that countries could impose extra hurdles or undercut each other in a bid to attract business.