Thread by @youfelll

1/ MiCA final voting will happen this April. But what the hell is MiCA? Markets in Crypto-Assets (MiCA) is the main regulation in the EU (European Union). 👨🏻‍⚖️ Let's discuss how it can affect the industry and what is it all about. #MiCA #EU #regulation

2/ The proposed MiCA regulation in the EU is kind of a significant development for the crypto industry. While the regulation aims to provide clarity and regulatory certainty, it presents both benefits and drawbacks that must be carefully considered.

3/ The aim of MiCA is to establish a comprehensive set of rules and standards for digital assets, covering everything from initial coin offerings (ICOs) and security tokens to stablecoins and non-fungible tokens (NFTs).

4/ On the one hand, MiCA could help to promote innovation and protect investors by imposing uniform standards and rules across the EU. It could also reduce the regulatory uncertainty that has hampered the industry's growth and development.

5/ On the other hand, MiCA could stifle innovation by imposing burdensome compliance requirements on startups and smaller players. It could also limit competition and create barriers to entry for new market participants, reducing the overall vibrancy of the market.

6/ Overall, the goal of MiCA is to create a level playing field for digital assets within the EU, with clear and uniform rules that provide certainty for investors, protect consumers, and promote innovation. Might be true, but might not...

7/ A final vote on the European Union’s MiCA regulation is set for April 2023. The anticipated final decision on the legislation was deferred in January 2023 due to technical issues relating to the translation of the document into the 24 official languages of the European Union.

8/ Personal opinion: MiCA is a better thing than SEC & CFTC. Anyways, what do you think about regulations, is it a better thing for the industry growth and gaining trust?