Europe’s MiCA Unleashes New Era: 53 Crypto Entities Authorized, But Where Are Binance and Tether?

Key Points

1. MiCA is the EU's comprehensive framework to regulate crypto assets, aiming to harmonize rules across 27 member states and protect consumers.

2. The regulation categorizes crypto assets and applies specific rules, with stablecoin rules effective from June 30, 2024, and broader rules for CASPs from December 30, 2024.

3. 53 entities, including CASPs and stablecoin issuers, have been authorized under MiCA, enabling them to operate across the EU with regulatory compliance.

4. Notable absences from the authorized list include Binance and Tether, raising questions about their compliance journey under MiCA.

5. MiCA's implementation sets a benchmark for global crypto regulation, emphasizing consumer protection and market integrity while fostering innovation.