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US Delegates Visit Brussel to Learn EU’s Landmark Crypto Law

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The United States Congress is dispatching delegates to Brussels to learn MiCA, the European Union’s big law.

This move comes as concerns of cryptocurrency competitiveness arise due to the SEC crackdown.

More than 1 dozen of United States staffers who are majorly fintech and cryptocurrency specialists will be heading towards Paris and Brussels.

These delegates were tasked to study all about the European Union’s latest legal structure for cryptocurrency.

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In addition, the delegates will be meeting with the EU officials as well as regulators.

They will also meet with cryptocurrency industry lobbyists for companies and trade groups based in the bloc of around 6 individuals with experience of the trip.

The Agenda of the Delegation

The team of staffers arranged meetings with regulators and members of the European Parliament.

This includes; European Banking Authority as well as European Securities and Market Authority.

Furthermore, the delegates will also meet with companies rep and industry groups based within the industry bloc.

These involves; Ledger, Adan, and Blockchain4Europe.

The major agenda of this trip is to learn the EU’s transforming MiCA (Markets in Crypto Assets) regulation.

According to Faustine Fleuret, during the delegates meeting, “MiCA offers legal certainty to firms who has or wishes to launch business in the European Union”.

He went further to say that “even though the rules are not perfect, at least, they will understand what they are’.

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MiCA, a comprehensive and wide-ranging law known as Markets in Crypto Assets, takes center stage in the EU’s cryptocurrency regulations.

The final vote on MiCA was scheduled last February but pushed to April or May as a result of delays in interpreting regulation.

Application through the regulator’s decision making and European Union’s member states may still last longer.

Moreover, organizations will not be held to the law’s standards for another 1 year and 6 months after the final signatures are signed.

However, MiCA stands out as a highly intricate cryptocurrency legislation, surpassing any previous US laws in complexity.

 

 

 

 

 

 

 

 

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