Crypto assets, one of the most controversial investment vehicles of recent years, have been under the attention of almost all governments and levels of management for some time now. In this context; Many countries, including Turkey, have some for crypto assets. legal prescriptions already implemented. The European Union has also done some work on this issue and a regulation on cryptoassets was recently passed by the European Parliament. accepted.

The European Union Crypto-Assets Regulation “Crypto-Asset Regulation” (Mica) are named. The regulation, which is expected to come into force from next year, will be implemented in several phases and will be binding on all countries of the European Union. So MiCA is about cryptoassets what’s in it And what do stakeholders in the sector think of this issue?

What provisions does the European Union Crypto Assets Regulation introduce?

The regulation, which has been in the works for several years and was adopted by the European Parliament on April 20, is the most protect investors goals. In this context; Individuals or institutions that want to develop cryptocurrency are obliged to prepare a white paper in the context of this law. In addition, exchanges and other institutions obtain licenses to provide services and comply with the requirements of those licenses. their fulfillment needs.

So what do the experts say?

The name, which makes statements about the European Union’s Crypto Assets Regulation (MiCA), is the world’s largest crypto exchange. BinanceRichard Teng, Regional President of Europe and MENA (Middle East and North Africa). heard from editors satisfaction To express that, Teng made remarkable evaluations.

With MiCA, crypto assets have become a new asset class!

*Binance Europe and MENA Regional President Richard Teng.

“MiCA, crypto assets a new asset class accepted asRichard Teng said, explaining why this is important:This decision is for the protection of consumers and efficient and fair It is the right approach to achieve policy goals, such as making it work.”

No service is provided without a permit!

Richard Teng also spoke about MiCA’s regulations regarding exchanges and other crypto service providers. Editing is also possible for Web3-oriented companies. because it gets easier He called the Binance manager and said:Crypto asset providers will have 18 months to transition, obtain a license and comply with MiCA requirements. Currently to operate across the EU they get a visa. This will greatly simplify compliance for Web3 companies, who can now rely on a single rulebook rather than the costly and fragmented auditing approach that exists today.”

Europe could become the epicenter of the crypto asset community

Richard Teng mentioned that the European Union regulation of crypto assets is important for the whole world and said that the EU regulation point will remain in the leading position expressed. Moreover, this situation will change Europe’s place in this community. Because with the regulations, the work of the companies is also important for the investors. to trust It will be easier to win. The Binance manager’s assessment on this point was as follows:

“Regulation and clarity provide the kind of certainty and assurance that both investors and businesses need, driving innovation and safety in all markets. competitiveness will encourage. With the introduction of MiCA, Europe will attract Web3 innovators from all over the world. With the political will and the right investments, Europe epicenter can become.”

Binance has always welcomed regulation!

MiCA was a development that benefited not only investors, but also equity markets. Our readers who follow the sector closely know; sometimes too big we have encountered scams and this situation led to the smearing of global giant stock markets like Binance. In fact, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance CEO CZ (Changpeng Zhao) a few months ago. About the subject make statements CZ is already with the authorities. partnership He said they were in. The arrangement also allows Binance to breathe a sigh of relief.

With this; Richard Teng thinks he can breathe a sigh of relief with MiCA. “The clear rules create a level playing field for market parties.Teng said, it’s a ton for them to be under an ordinance and act accordingly. will benefit mention. Of course, the regulations that work for a giant exchange like Binance have made it possible over the years for exchanges founded for profit like THODEX. exterminated will be.