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International Business Times
International Business Times
Business
Marvie Basilan

MiCA Comes Into Full Force: What You Need To Know About EU's Stringent Crypto Rules

European Union MiCA Crypto The European Union United States Tether
The MiCA regulation's timeline (Credit: ESMA Official Website)

KEY POINTS

  • The MiCA distinguishes cryptocurrencies into three categories: EMTs, ARTs, and OCAs
  • The regulation requires crypto asset issuers or offerors to be fair, transparent, professional, and honest in their dealings
  • EMT (stablecoin) issuers such as Tether are expected to receive authorization as an e-money institution

The European Union's Markets in Crypto-Assets Regulation (MiCA) has finally come into full force ahead of the New Year. But, despite the stringent rules coming into effect, it appears many cryptocurrency firms are already prepared for the regulation.

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