The final vote on a long-awaited set of cryptographic rules in the European Union (EU)-encryption Market Asset Control (MICA)-has been postponed until April 2023. It marks the second postponement of the final vote, which was postponed from November 2022 to February 2023.
According to The Block, the latest delay is mainly due to a technical difficulty, as the 400-page government document cannot be translated into 24 official languages of the European Union. Legal provisions such as mica are written in English to meet the requirements of the European Union and are published in all 24 official languages of EU countries.
The first postponement of the final vote to February in November 2022 was also caused by translation problems. The delay in the final vote means that financial regulators in Europe will have to wait longer before drawing up enforcement rules. Once mica is approved by the official website, financial regulators will have 12 to 18 months to work out standards and regulations.
The European Federation of Parliaments passed a mica law in October 2022, and it has been several years since it was first introduced in September 2020. The second postponement is due to the increasing need to grant the law, especially after the password infection caused by FTX.
When Stefan Berger, a member of the European Parliament's economic bureau, defended the importance of controls such as Mica, he described the FTX collapse as one of "Lehman Brothers all the time" that "must be avoided".
With MICA, the purpose of European policy makers is to formulate policies and regulations to create harmony rules for cryptographic assets in EU countries, thereby giving predictability of laws and regulations to cryptographic assets that are not covered by current EU legislation.
Password policies and regulations also establish basic policies for the operation, structure and governance of data asset dynamic password issuers. The law also makes do with the rules needed to provide transparency and disclosure for the sale and payment of encrypted assets.
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023