The European Parliament approved the world's first comprehensive rules to regulate the"Wild West" world of cryptocurrencies on Thursday, hoping to protect investors against abuse and manipulation.
One of the most recent cryptocurrency exchange failures came in November when the FTX platform and its sister trading house Alameda Research went bankrupt, dissolving a virtual trading business that at one point had a market value of $32 billion. "We believe that had FTX, for example, been captured under EU jurisdiction, many of its practices would not have been permissible under MiCA," McGuinness said in Strasbourg.
The EU says this will make it harder for criminals to use cryptocurrencies for illegal activity such as money laundering. "In line with the principle of proportionality, significant CASPs should be subject to both stricter requirements and enhanced supervision: neither of the two is catered for by MiCA," Elizabeth McCaul, European Central Bank supervisory board member, wrote in a blog post this month.
Source: News Formal (newsformal.com)
_Business Don't trust independent crypto, trust government CBDC🤔
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lampard finds crumbs of comfort despite Chelsea's European exitChelsea interim manager Frank Lampard found crumbs of comfort from his side's performance despite a crushing Champions League quarterfinal exit against Real Madrid on Tuesday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Source: SABCNews - 🏆 37. / 51 Read more »
Source: KickOffMagazine - 🏆 36. / 51 Read more »
Heineken boosted by European beer lovers as Nigeria and Asia sales slowThe Amstel maker’s results offer a potentially mixed outlook for brewers 𝐓𝐡𝐚𝐧𝐤 𝐲𝐨𝐮 𝐟𝐨𝐫 𝐛𝐞𝐢𝐧𝐠 𝐬𝐨 𝐠𝐞𝐧𝐞𝐫𝐨𝐮𝐬, 𝐭𝐡𝐨𝐮𝐠𝐡𝐭𝐟𝐮𝐥 𝐚𝐧𝐝 𝐬𝐨 𝐭𝐫𝐮𝐞. 𝐖𝐢𝐭𝐡 $500 𝐬𝐭𝐚𝐫𝐭-𝐮𝐩 𝐢 𝐦𝐚𝐝𝐞 $5,000 𝐓𝐡𝐚𝐧𝐤 𝐲𝐨𝐮 𝐟𝐨𝐫 𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐰𝐨𝐫𝐝𝐬 𝐚𝐧𝐝 𝐛𝐞𝐢𝐧𝐠 𝐭𝐡𝐞 𝐫𝐞𝐚𝐥 𝐲𝐨𝐮 Ryan_Owen_FX
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: KickOffMagazine - 🏆 36. / 51 Read more »
Source: News24 - 🏆 4. / 80 Read more »