, 2022-12-28 17:00:25,
In 2022, the crypto sector witnessed a series of significant layoffs, the price of Bitcoin collapsed three times, and several giant firms went bankrupt. However, 2022 was a pivotal year for crypto legislation worldwide, and several noteworthy regulatory occurrences might give one hope for the industry’s future.
The Markets in Crypto-Assets bill
After the European Parliament’s various voting procedures, the European Markets in Crypto Assets bill is on track to become law in 2024. Since the proposed initially comprehensive crypto framework in September 2020, it has undergone several rounds of consideration.
MiCA (Market in Crypto Assets regulation) is a regulation project aiming to establish a specific European framework for stablecoins and providers (VASP).
Basically, it’s the next big step for the European industry (access to the EU market/level of compliance similar to TradFi).
— William O’Rorke (@williamororke) March 12, 2022
The European Securities and Markets Authority oversees the transparent licensing system included in the bill. Rigorous requirements will be placed on stablecoin operators, and legal liability for crypto influencers will increase. The law takes a middle-ground approach, with an appropriate focus on safeguarding investments.
US Drafted Bills for Crypto Legislation
The Responsible Financial Innovation Act (RFIA) of the United States allocates responsibilities among various federal regulatory bodies. Investment contracts, which the RFIA…
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