Add news
March 2010 April 2010 May 2010 June 2010 July 2010
August 2010
September 2010 October 2010
November 2010
December 2010
January 2011
February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019 September 2019 October 2019 November 2019 December 2019 January 2020 February 2020 March 2020 April 2020 May 2020 June 2020 July 2020 August 2020 September 2020 October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 February 2024 March 2024 April 2024 May 2024 June 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
26
27
28
29
30
News Every Day |

What MiCA’s July Implementation Means for Crypto Around the World

Stablecoins sit at the center of the crypto sector’s goals for a return to form.

That’s because stablecoin digital assets, which are designed to maintain a stable value by being pegged to a reserve asset such as a fiat currency (e.g., USD) or commodity (e.g., gold), aim to provide the benefits of cryptocurrencies — such as security, privacy and quick transaction times — while doing their best to minimize price volatility.

And with the news that, at the end of June, the European Union’s landmark Markets in Crypto-Assets Act (MiCA) stablecoin regulations will go into effect, complying with that framework is top of mind for stablecoin issuers, custodial firms, trading exchanges, crypto-asset advising firms and crypto-portfolio managers alike.

The MiCA regulation is part of the European Union’s broader strategy to bring clarity and security to the crypto-assets market. It aims to protect consumers, ensure financial stability and foster innovation within the digital currency space.

By establishing clear guidelines for the operation of stablecoins, MiCA seeks to mitigate the risks associated with these digital assets, such as volatility and potential market manipulation.

At the same time, the MiCA implementation is occurring against a backdrop where, to date, most government oversight of stablecoins and the crypto sector has been relatively theoretical.

MiCA will result in stablecoins being divided into two categories across the EU: “regulated stablecoins,” or those issued by certain regulated companies with approval to offer their tokens to the public and business landscapes; and “unauthorized stablecoins,” or those tokens already populating the crypto marketplace but which may not fall into the regulated category and thus be subject to certain further restrictions when engaged with across the EU’s economic boundaries.

Read more: What CFOs Should Know About the Growing Use of Stablecoins

Understanding The MiCA Framework

Under MiCA, fiat-backed stablecoins or eMoney tokens that have surpassed a specified adoption threshold— measured by a set of seven quantitative and qualitative indicators — will face additional and increased regulatory requirements that put them under the supervision of the European Banking Authority (EBA), as opposed to one of the EU’s national authorities.

The regulation bans algorithmic stablecoins outright and requires fiat-backed stablecoins to be backed by a liquid reserve that has a 1:1 ratio, as well as requires issuers to establish and maintain a reserve of assets insulated from other assets and held in custody by a third party. These measures are designed to guarantee that stablecoins can be reliably used for payments and as a store of value, thereby enhancing consumer trust in digital currencies.

And with blockchain continuing to be embraced by mainstream and traditional financial players, compliance will be crucial for effectively doing business and growing digital asset adoption across the EU.

Binance, the world’s largest — and often embattled — crypto exchange has already announced that it plans to “restrict the availability of Unauthorized Stablecoins for EEA users, implementing phased changes and product restrictions to ensure compliance and minimize market disruption.”

This approach, per the company, “aims to fulfill MiCA objectives smoothly by transitioning users from Unauthorized Stablecoins to Regulated Stablecoins over time, as more Regulated Stablecoins become available in the market.”

“Currently there are few regulated stablecoins with limited liquidity that may not be sufficient to support sudden demand across the industry,” the exchange added in the announcement.

At the same time, stablecoin issuer Circle published a paper titled “MiCA’s Significance Regime for Stablecoins — A Sledgehammer to Crack a Nut?” that argues for “the dual purpose of MiCA’s significance regime — transfer of supervisory responsibility and introduction of increased prudential requirements — [to] be disentangled.”

With the June deadline approaching quickly, the paper does not appear to have impacted the upcoming framework’s requirements.

Read more: Solana Foundation Goes All In on Blockchain as a Mainstream Payments Rail

What to Know About the Stablecoin Opportunity

The recent PYMNTS Intelligence report, “Can Blockchain Solve the Cross-Border Payments Puzzle?” found that incorporating stablecoins into a business’s payment system also provides cross-border customers with a fast, dependable and cost-effective alternative to traditional payment rails. Stablecoins can boost transaction speed and lower currency-exchange risks, making them an attractive option for international transactions.

As just one data point, the Solana network processed $1.4 trillion in stablecoin cross-border payments in March alone, per CryptoSlate, highlighting the scalability of on-chain solutions for cross-border payments.

“The true intrinsic value of blockchain, which is around programmability of transactions, immutability of transactions, and the ability to do delivery versus payment and always-on types of payments, has yet to be unlocked,” Mastercard Chief Digital Officer Jorn Lambert said in an interview with PYMNTS posted last July.

And as the implementation of MiCA progresses, it will be crucial to monitor its impact on the stablecoin market and the broader digital currency ecosystem.

The post What MiCA’s July Implementation Means for Crypto Around the World appeared first on PYMNTS.com.

Москва

Baza: мигранты поселились в строящемся ЖК "Горки Парк" в Московской области

Who could England get next in Euro 2024 knockout stage after going through to last-16?

Rashan Gary Showed No Concern When Asked About Caleb Williams

‘I’ll have to talk to my agent’ says Harry Kane as England star offered transfer from Bayern during press conference

Meet Slovenia’s gorgeous Wags, from a mummy blogger and influencer to a professional tennis star

Ria.city






Read also

Diamond move to 2-0 in second week of Hoopsfix Pro-Am

Off Piste at Plymouth Snowsports Centre!

Drowning town: Nigerian community helpless against rising seas

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Rashan Gary Showed No Concern When Asked About Caleb Williams

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

Frustrated England stars including Kane and Bellingham consoled by Wags and family in stands after tame Denmark draw



Sports today


Новости тенниса
WTA

Теннисистка Калинская впервые вошла в топ-20 рейтинга WTA



Спорт в России и мире
Москва

Инвестор построит физкультурно-оздоровительный комплекс в Северном Медведкове



All sports news today





Sports in Russia today

Москва

Легенда вне времени Жанна Агузарова и легенда поп-музыки Жанна Фриске:самое интересное с Премии МУЗ-ТВ 2024


Новости России

Game News

There is an early power up in Elden Ring: Shadow of the Erdtree that basically turns the game into Sekiro, but the description is so vague I didn't realize how good it was until 40 hours later


Russian.city


Москва

Республика Коми заняла 19 место в рейтинге регионов России по экономическому потенциалу


Губернаторы России
БГАТОиБ

Три балета и гала-концерт - в Чите прошли гастроли Бурятского театра оперы и балета


«Я ВАС СПРАШИВАЮ, КТО ВЕРБОВАЛ ВАЗ, ЗЕЛЕНСКОГО?!» Записки Мессии по технике безопасности.

Рябков: сегодня высоки риски прямого вооруженного столкновения ядерных держав

Вебкам-студия MONTANA в Санкт-Петербурге

Клининговая компания КлинОн запустила Telegram-канал


Поэт. Радио Поэт. Стихи поэтов. Русские поэты. Писатели и поэты. Известные поэты. Поэт года. Поэты России. Лучшие поэты. Поэт песенник.

Свобода - не вседозволенность: Рэпер ST о самоцензуре и свободе слова

Памятник Цою в Крыму ждут перемены

Его можно было спасти: вдова Шатунова сделала душераздирающее признание в день годовщины мужа


Грузия сыграла вничью с Чехией на Евро, Калинская вышла в финал Берлина. Главное к вечеру

Россия — первая по теннисным отказникам! Почему сразу девять наших сказали «нет» Олимпиаде в Париже

Калинская уступила Пегуле в финале турнира в Берлине

«Недальновидное решение». На «Беларусь 1» раскритиковали отказ Арины Соболенко от Олимпиады



Совладельцы инвестгруппы "Русские фонды" отправлены под домашний арест

Главный врач клиники "Мегастом", стоматолог Владимир Лосев: в каком возрасте оптимально устанавливать брекеты

Четверых пострадавших при атаке на Севастополь детей госпитализировали в РДКБ

Вебкам-студия MONTANA в Санкт-Петербурге


Уссурийский ЛРЗ инвестирует в обновление оборудования

Валюты ищут равновесие // Юань и рубль балансируют между торговлей и бюджетом

Армения "положила" на дружбу РФ. Армяне в России заявляют, что "ОНИ" будут решать судьбу Краснодарского края и Черноморского побережья

Документальный фильм «Газпром-Медиа» покажут на НТВ и крупнейших российских платформах 
в День памяти и скорби 22 июня


Республика Коми заняла 19 место в рейтинге регионов России по экономическому потенциалу

Дело "Кухни на районе" рассмотрит Люблинский суд Москвы

ДУКи пяти районов города провели техосмотр и очистку водосточных систем многоквартирных домов

В Казани прошел фестиваль осознанного развития «Я тебя вижу»



Путин в России и мире






Персональные новости Russian.city
Песня

Продвижение Песни или Музыки в YouTube, RuTube, ВКонтакте, ЯндексДзен и других видеоплощадках!



News Every Day

‘I’ll have to talk to my agent’ says Harry Kane as England star offered transfer from Bayern during press conference




Friends of Today24

Музыкальные новости

Персональные новости