While MiCA is seen as a net positive for stablecoin regulation, it introduces consolidation concerns, especially among small crypto firms.
Global stablecoin regulation will take a crucial step forward with Europe’s upcoming regulatory framework, according to Binance, the world’s largest cryptocurrency exchange.
The European Union’s Markets in Crypto-Assets Regulation (MiCA) bill is the first comprehensive regulatory framework for crypto, which could legitimize the industry for lawmakers globally.
MiCA will be a “critical element” for the development of a comprehensive, global stablecoin regulation, according to a Binance spokesperson, who told Cointelegraph:
