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The European Crypto Initiative Team: 'Big changes are coming to the crypto world in the EU, and it all starts with #MiCA'

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European Crypto Initiative | https://eu.ci/team/

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."

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The framework and legal clarity provided by the MiCA regulations have attracted the European Union’s largest banks to enter into the crypto industry, according to a report by Cointelegraph. Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad said, "European banks are moving into crypto as an asset class and tokenization technology because MiCA, the upcoming regulatory framework for Europe, is suddenly bringing full clarity for banks."

The European Crypto Initiative (EUCI) aims to shape EU regulation to favor open, permissionless, decentralized applications leveraging blockchain technology while advocating for an innovative EU environment. According to their website, "The EUCI team is composed of leaders from countries over Europe that make sure 'that at the national level, the voices of the crypto companies are being heard.' We bring years of experience in the blockchain space and are uniquely positioned to understand the complex technical component and the challenges it brings to the centrally designed regulation framework."

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European banking authority issues new guidelines for crypto providers to comply with restrictive measures

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Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

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OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

UK’s digital assets bill brings much-needed clarity to digital asset regulation

On November 6, the UK government issued an updated version of the Property (Digital Assets Etc.) Bill, clarifying its approach to defining digital assets, including crypto tokens, as recognized property under English law. The update aims to provide greater security and clarity for individuals and businesses engaging with digital assets.

Nov 20, 2024

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

Matt Law, Chief Commercial Officer at Outlier Ventures, said that it would not "surprise" him if many people embrace "more efficient," cost-effective systems like tokenization to gain the "same user benefit."

Nov 16, 2024

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