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EU Crypto Asset Market (MiCA) Regulatory Framework Expected to Enter into Force in June 2024

2022-09-22 15:23:34Bochain Finance

BroadChain Finance has learned that on September 22, according to The Block, according to the leaked new draft of the Crypto Assets Market (MiCA) regulation, restrictions on stablecoinsMeasures have been eased, in which restrictions on the use of USD-pegged tokens within the EU have been lifted.The stablecoin provisions are expected to take effect in January 2024, with the remaining provisions in June 2024.

Previously, according to CoinDesk, the EU has finalized the full text of the Markets in Crypto Assets Legislation (MiCA).

While officially the text is still open for comment, sources familiar with the negotiations say it has actually been finalized.

A leaked version of the verified draft bill urges EU law enforcement officials to take a "substance over form" approach to the bill, meaning the bill's provisions may even apply to some assets classified as NFTs.

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