From this Monday, December 30, the regulation on crypto-asset markets gradually comes into force. A regulation on the scale of the European continent which sets up supervision of cryptocurrencies, a market in full swing across the Atlantic since the election of Donald Trump.
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If investor enthusiasm for digital assets is strong, the market for cryptocurrenciesitself, is largely unregulated. And therefore not without risk for consumers and for the stability of the financial system. Risks which have only grown with the explosion in bitcoin prices.
The new European regulation has a name: MiCA, for Markets in Crypto Assets. Its mission: to protect investors and fight against money laundering.
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Thus, the company that would like to provide its cryptoasset services on the European market will have to request a license from a financial markets regulator.
The goal is to bring the cryptocurrency sector closer to the standards in force in the traditional banking and financial sector through greater transparency and enhanced traceability.
If France has taken a few steps ahead thanks to the Pacte law passed in 2019other Member States are lagging behind. The implementation of MiCA should thus make it possible to harmonize practices at European level, while reassuring the markets.
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