New EU Crypto Law Sets Rules for Stablecoins but Raises Compliance Questions
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EU's new crypto law MiCA takes effect in June 2024, setting rules for stablecoins in the region. But legal uncertainties remain.
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Binance executive warns MiCA may lead to widespread stablecoin delisting in Europe when rules kick in, as no coins approved yet.
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MiCA requires stablecoin issuers to be EU entities. Unclear how decentralized and foreign issuers can comply.
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EU regulators stress no grace period for existing stablecoins when MiCA stablecoin provisions start.
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Lawyers say MiCA's rules could allow foreign issuers to register through an EU crypto provider. But EU regulators skeptical of flexibility.
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