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The EU Joins in Creating Consumer Protection for Crypto Users

by | Jul 11, 2022 | New Laws |

The European Union (EU) executed its Marketplace in Crypto-Assets (MiCA) on June 30, 2022, which provides the regulatory framework for digital assets in the EU bloc when the asset, or token, has an issuer.  Coins that have no issuers, like Bitcoin, will have other rules, such as warning consumers about the risk of loss associated with cryptocurrency.  MiCA is intended to protect consumers and thwart crime.  Stablecoins will have to keep sufficient reserves at times of mass withdrawals, while the European Securities and Markets Authority (ESMA) will have more teeth to restrict or ban platforms that are not properly protecting investors or which threaten financial stability.


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