European Banking Authority: Plans to publish a final report on how to monitor stablecoin issuers at the end of this month
European Banking Authority stated that it plans to release a final report at the end of this month on how to monitor stablecoin issuers. Tether, Circle, and other large stablecoin issuers will soon be subject to strict regulation by the European Union. According to new regulations that took effect on June 30th, these companies not only need appropriate authorization to operate in the trading zones of 27 countries, but also face strict restrictions on the number and value of transactions under the Market in Crypto-Assets (MiCA) legislation.
Robert Kopitsch, Secretary-General of the European Blockchain, said that these regulations mean that some of the largest stablecoin issuers may not be able to operate in the European Union, including Tether and Circle.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Standard Chartered sees bitcoin rebounding this weekend, bucking recent trend
After weeks of negative weekend returns, bitcoin may finally break the trend this weekend, according to a Standard Chartered analyst.The analyst expects bitcoin to hit $102,500 soon, citing a potential weekend rebound and ETF inflows.
Ethereum NUPL Indicates Growing Panic: A Look at How a $3K Shift May Alter Perspectives
SEC's Approval of 21Shares' ETH Staking Could Offset Anxiety and Bring New Optimism to Ethereum Investors
Changing the Balance: Nasdaq Makes Serious Cryptocurrency Call to SEC
US technology exchange Nasdaq has filed a cryptocurrency complaint with the US Securities and Exchange Commission (SEC).
Pig Butchering Just Got Smarter: 40% Surge Shows Scammers Moving Faster and Hitting Harder
Trending news
MoreCrypto prices
More
