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The final #MiCA text is here!
After a false alarm on Thursday, when pre-trilogue amendments were mistaken for a new version, we can now take a look at the text that will be voted on by the @Europarl_EN on 20/4
TL;DR - No changes for DeFi, NFTs & stablecoins' caps
A quick 🧵
After a false alarm on Thursday, when pre-trilogue amendments were mistaken for a new version, we can now take a look at the text that will be voted on by the @Europarl_EN on 20/4
TL;DR - No changes for DeFi, NFTs & stablecoins' caps
A quick 🧵
MiCA will NOT apply to "crypto-asset services provided in a fully decentralised manner without any intermediary"
The @EU_Commission will produce a report in 18 months assessing the "necessity and feasibility of regulating #DeFi"
The @EU_Commission will produce a report in 18 months assessing the "necessity and feasibility of regulating #DeFi"
It will also NOT apply to unique and non-fungible tokens, but it WILL apply to fractional #NFTs
Authorities to adopt a "substance over form approach" when classifying NFTs, as their "de facto features" or their "issuance in a large series" could mean they are fungible = captured
Authorities to adopt a "substance over form approach" when classifying NFTs, as their "de facto features" or their "issuance in a large series" could mean they are fungible = captured
