Thread by @PropyInc

1/ 🔹Europe is setting up a bright future of crypto and Web3! Last week the European Parliament approved #MiCA (517-38 in favor) - legislation on cryptocurrency that will bring in new rules for the industry across the 27-country bloc.

👉This is a significant step forward that… twitter.com/i/web/status/1…

2/ 📍MICA provides clarity on the regulatory framework - something that all Web3 businesses are searching for.

Clear guidelines can assist crypto companies in comprehending their responsibilities and making progress toward complying with regulations.

The worse thing for… twitter.com/i/web/status/1…

3/ 📍Protection for consumers - MiCA’s goal is to protect consumers from fraud & scams.

This will improve the trust in digital assets reducing the risk of investors losing money.

4/ 📍Improved compliance - Crypto asset service providers should register with national regulators in the EU and comply with AML and counter-terrorism rules.

This will not only prevent illicit activities but also reduce the risk of crime.

5/ 📍Place for #Web3 to grow - as MiCA introduces a standardized regulatory framework for the crypto industry across all 27 countries in the #EU the digital assets will have a safe place to evolve.

The framework will be one and the same for all EU participants opening the gates… twitter.com/i/web/status/1…

6/📍Potential #cryptohub - MiCA's framework could increase the EU's credibility on the regulation of crypto creating many crypto hubs in Europe.

7/What do you think about MiCA?