European parliamentarians from the Green Party and socialist representatives propose to reform the law on Cryptoactive Markets, better known as the MiCA Law, to include non-fungible tokens (NFT) within the new regulatory framework, since the regulation does not contemplate issues related to digital collectibles.

The intention of the legislators, in reforming the regulation, is to incorporate NFT buying and selling platforms so that they can be regulated and protected “against money laundering (AML) in the European Union.”

According to what is expressed in the documentation presented by the group of legislators, it is necessary to consider it because “the regulations of the MiCA Law are designed to be complied with by service providers with cryptocurrencies.”

Assembly members also believe that it is important to regulate “decentralized autonomous organizations (DAO) and towards hardware wallets or cold purses.” The current legislation maintains “that the transfers made by the owners of the wallets with the exchanges must be notified to the regulatory entities.”

As will be recalled, the MiCA law was recently agreed by European negotiators with the fundamental purpose of “regulating issuers and service providers with crypto assets.” However, the new law must be sanctioned by the Committee on Economic and Monetary Affairs, with a full vote, and once it is approved, its general implementation in the eurozone will begin 18 months after it comes into force.

M. Rodríguez

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Source: noticiasdebariloche.com.ar

La entrada European Parliament proposes to reform the MiCA law apareció primero en Bitfinance.

The European Central Bank (ECB) reported that it plans to invite the population to participate in the redesign of the euro banknotes in a process that is projected to culminate in 2024 with the acceptance of a final proposal.

In the words of Christine Lagarde, President of the ECB, “after 20 years, it is time to update the appearance of our banknotes so that Europeans of all ages and backgrounds can identify with them.”

She also expressed that the euro banknotes will remain on the market for a long time.” She stressed that the banknotes “are here to stay” considering it a tangible symbol and that it represents the union in Europe, especially in times of crisis.

European Central Bank appoints advisory group

European citizens will participate in the redesign process of the new banknotes, which is why the European Central Bank appointed an advisory group made up of a specialist from each country in the area, who will be responsible for consulting people on possible issues for the bills.

Citizens will express their opinion through the discussion groups that will be created as one of the first steps in the redesign process. The group will address the different proposals or topics for future bills.

Then, the advisory group will present the list to the Governing Council of the ECB, which once the topics have been selected will call a design competition for the new banknotes and the public will be summoned again. The Governing Council will be the one to adopt the final decision and issue the order to produce and print the euro banknotes and to establish the date of their issue.

M. Rodríguez

Source: eleconomista.es

La entrada European Central Bank to redesign euro banknotes apareció primero en Bitfinance.