{"id":19948,"date":"2023-07-13T03:06:43","date_gmt":"2023-07-13T03:06:43","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/eu-issues-new-crypto-guidelines-as-it-eyes-web4\/"},"modified":"2023-07-13T03:06:47","modified_gmt":"2023-07-13T03:06:47","slug":"eu-issues-new-crypto-guidelines-as-it-eyes-web4","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/eu-issues-new-crypto-guidelines-as-it-eyes-web4\/","title":{"rendered":"EU Issues New Crypto Guidelines As It Eyes “Web4”"},"content":{"rendered":"
The European Union has laid out the first significant powers under its forthcoming Markets in Crypto Assets Law (MiCA), a set of stringent guidelines poised to reshape the cryptocurrency landscape within the 27-nation bloc. The European Securities and Markets Authority (ESMA) has issued a detailed proposal outlining how EU crypto companies should be authorized under the law, extending from user complaints handling to conflict of interest management.<\/p>\n
Specifically, stablecoin issuers find themselves under intense scrutiny, as the MiCA directives implicitly draw lessons from the notorious collapses of USDT and FTX. The regulations stipulate that to operate within the EU under a single MiCA license, companies issuing stablecoins must meet certain requirements. These include demonstrating clear segregation of client funds and crypto assets from the company\u2019s own account and detailing the security of their systems, particularly with regard to distributed ledger technology.<\/p>\n