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The European Crypto Initiative (EUCI), a European blockchain advocacy group, stated that the Markets in Crypto-Assets (MiCA) regulations are poised to bring significant changes to the crypto world within the European Union. EUCI shared their statement on September 4 via a post on X.
"Big changes are coming to the crypto world in the EU, and it all starts with MiCA," said European Crypto Initiative Team.
According to a release by Elliptic, the EU’s new Markets in Crypto-Assets regulations took effect on June 30 for all stablecoin issuers. This development ushers in "a new era of regulatory oversight for innovators in the Crypto space." The new rule stipulates that "issuers must now obtain approval from relevant members of state authorities before offering their tokens within the EU, or when offering stablecoins pegged to the euro or other member state currency."
