How will stablecoins be regulated in Europe? A look inside the European Union's Markets in Crypto-Assets legislation.
Apart from that, the guidelines set several standard formal procedures for the stablecoin issuers such as the obligation to register legal entities in the EU and provide quarterly reports and white papers with mandatory disclosure requirements.Some don’t consider the stringent MiCA guidelines for stablecoins to be a major threat.
Budd White, chief product officer and co-founder of crypto compliance firm Tacen, told Cointelegraph that the concerns about the cap on daily transactions may present an obstacle to mass institutional adoption in Europe. However, he doesn’t find the 2% demand particularly worrisome, seeing it as a step to balance trust and privacy and provide a layer of insurance for investors:
At the end of the day, White considers MiCA a hugely important step forward for crypto regulation in the EU, even though some of the industry’s anxieties are justified. He draws attention to another section of the regulation, namely the guidelines for. The current definition most closely likens NFTs to regulated securities, leaving wiggle room for the interpretation of NFT art and collectibles.
“Our hope is that we will see new and innovative solutions from the industry come forward that help ease this burden.”
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