Cryptocurrency Industry Not Ready for Europe’s MiCA Laws Yet
Delphine Forma, Head of UK and EU Policy at Solidus Labs, has confirmed that the crypto industry is not ready to deal with the market for crypto assets regulation (MiCA), which is expected to be fully implemented on December 30, 2024.
She also explained that the MiCA regulations are not new, but have been introduced gradually, with stablecoin rules introduced earlier this year, while the rest of the regulations will start soon.
Forma pointed out that the industry suffers from a misunderstanding of the MiCA regulations, and that by the end of next year, compliance with the regulations will be mandatory and mandatory without exceptions.
She also criticized the lack of preparedness of regulators in some countries, such as Belgium, which has not yet identified the body responsible for implementing MiCA, while other countries such as France are showing greater readiness.
She added that companies that are not registered in the EU but target clients in it may face significant difficulties due to the strict rules related to reverse ordering, which prevent direct promotion of services within the EU.
