Companies offering the purchase, sale, and custody of cryptocurrencies in Spain must have permits to operate in the country from July 1st, the date on which the regulations in this market established by the MiCA law come into effect.

According to industry analysts, exchanges and other service providers must be duly registered with the National Securities Market Commission (CNMV) by July 1st; otherwise, they must cease operations immediately.

There are 56 entities in Spain licensed to offer crypto services; among them are BBVA, CaixaBank, and OpenBank (Santander Group). All are considered benchmarks in the national crypto market.

The MiCA law aims to provide security, transparency, and oversight to transactions. The end of the transition period represents a significant reduction in the number of operators who will no longer be able to offer their services.

M.Pino

With information from international media

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La entrada The MiCA law on cryptocurrencies will come into effect in Spain on July 1st. apareció primero en Bitfinance.

A group of former Binance employees have launched a new stablecoin in Europe, called EURØP, backed by the community currency and adjusted to the regulations of the MiCA Law.

It is known that it will be available on the market in a few weeks and will operate on the Ethereum and Polygon networks. It was launched by the company Schuman Fianncial, created by former Binance executives.

EURØP is competing in the market with EURC, a stablecoin issued by Circle, to offer a new tool for “digital payments, currency exchange and the trading of tokenized assets, all supported by Blockchain technology.”

The founders of Schuman Financial are former Binance executives Martin Bruncko and Eduardo Morrison. The company has the proper license issued by the Prudential Supervision and Resolution Authority of France, “which authorizes the issuance of electronic money in the form of tokens, in accordance with the provisions of the MiCA Law.”

M.Pino

Source: diariobitcoin

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La entrada Former Binance employees launch new stablecoin EURØP apareció primero en Bitfinance.

The European Parliament, in its session this Thursday in Strasbourg, approved the MiCA law (Law for Crypto-asset Markets), with 517 votes in favor and 38 against, with 18 abstentions.

The MiCA law, which has been discussed previously, will allow the European Union to regulate the crypto industry in all member countries, with clear and precise regulations.

The main objective, after this decision, is to strengthen the fight against crimes such as money laundering or the financing of terrorist activities through the use of digital currencies.

According to Stefan Berger, spokesperson for the Group of the European People’s Party: “With the MiCA regulation, the European crypto-asset industry has a regulatory clarity that countries like the United States do not have.”

The reactions to the decision were immediate. Through the social network Twitter, managers of various exchanges and crypto investors highlighted the importance of creating regulations that provide security to people.

M.Pino

Source: es.beincrypto

(Reference image source: Traxer, Unsplash)

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La entrada European Parliament approves the MiCA law apareció primero en Bitfinance.

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.