European Union to Introduce Groundbreaking Crypto Asset Regulation

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The European Parliament is scheduled to vote on the upcoming Markets in Crypto Assets (MiCA) regulation of the European Union later this month. It will control people who issue digital assets, ensuring that investor information in white papers is truthful. To get a license to conduct business within the bloc, providers of related services must submit an application to one of 27 national authorities. Companies that are directly impacted, like stablecoin operators, are also optimistic. The MiCA is a very encouraging global regulatory framework for crypto assets. EU authorities put the MiCA framework into place, marking the first time a significant jurisdiction had a solid framework aimed at the cryptocurrency industry. Although it does not address decentralized finance, non-fungible tokens, or crypto lending and staking, it is a massive step in the right direction. Nations might use MiCA to enact additional regulations, like the limits France has suggested on social media influencers.

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Zambia intends to put virtual reality crypto exams into place by June to aid in the creation of laws for the industry. Due to the unpredictable nature of cryptocurrencies, the country’s Minister of Science and Technology, Felix Mutati, told Reuters that the key objective is to find a balance between innovation and public safety. Zambia has issued a warning about the dangers of cryptocurrencies and is preparing to launch its own digital coin from the central bank.

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