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What impact do you think the birth of MiCA will have on the cryptocurrency marke


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After two years of consultations, the European Parliament and EU member states recently agreed on June 29 on the terms of rules designed to protect consumers while allowing the emerging market for cryptocurrencies to flourish, according to the latest foreign media sources.

The agreement, known as Markets in Crypto-Assets, or MiCA.

I see a lot of news about cryptocurrencies here:EU reaches latest MiCA agreement in 2022

The agreement has many rules for cryptocurrencies and the crypto market seems to have stricter requirements in the future. 

Is this a good thing?

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Yes,  it should be a good thing provided the rules are sensible and, primarily to protect the consumer. Often when rules (in law) are brought in there are other bad or adversely effecting additional rules put in too. The whole object is to bring cryptos under governments control rather then merely a good set of rules to protect the "consumers". Vested interest biases are often included.

The digital currencies are coming and this will aid that process. The digital currencies are different from cryptos. The famous and brilliant Jim Richards explains this very well. I shall post something from him in the future.  So, watch this space!

 

 

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