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JPMorgan: MiCA regulations will lead to growth of euro-denominated stablecoins
The Markets in Crypto Assets (MiCA) regulations, which came into effect in the EU on December 30, 2024, have created prerequisites for the development of the euro-denominated stablecoin segment. This is stated in a report by JPMorgan, writes CoinDesk.
According to the provisions of the law, only compliant 'stablecoins' may be used as trading pairs on regulated markets.
As a result, EU-based platforms have adjusted their product lines.
MiCA-compliant stablecoins like EURC from Circle have strengthened their positions due to competitors' problems, according to JP Morgan.
In November, Tether decided to discontinue support for EURT due to new legislative requirements. The company's CEO Paolo Ardoino criticized the requirement to hold significant collateral reserves in financial institutions.
Recall that Tether invested in European stablecoin issuers Quantoz and StablR as part of a new strategy on the continent.
By November 2024, MiCA-compliant 'stablecoins' like EURC, EURCV from Societe Generale, and EURI from Banking Circle had captured a record market share of 91%, according to Kaiko
#JPMorgan #EURI #MICA. #MiCARegulation #EC
The Markets in Crypto Assets (MiCA) regulations, which came into effect in the EU on December 30, 2024, have created prerequisites for the development of the euro-denominated stablecoin segment. This is stated in a report by JPMorgan, writes CoinDesk.
According to the provisions of the law, only compliant 'stablecoins' may be used as trading pairs on regulated markets.
As a result, EU-based platforms have adjusted their product lines.
MiCA-compliant stablecoins like EURC from Circle have strengthened their positions due to competitors' problems, according to JP Morgan.
In November, Tether decided to discontinue support for EURT due to new legislative requirements. The company's CEO Paolo Ardoino criticized the requirement to hold significant collateral reserves in financial institutions.
Recall that Tether invested in European stablecoin issuers Quantoz and StablR as part of a new strategy on the continent.
By November 2024, MiCA-compliant 'stablecoins' like EURC, EURCV from Societe Generale, and EURI from Banking Circle had captured a record market share of 91%, according to Kaiko
#JPMorgan #EURI #MICA. #MiCARegulation #EC
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Four companies received a MiCA license to operate in the EU.
Four companies received a MiCA license to operate in the EU.
The Dutch regulator issued a long-awaited Markets in Crypto Assets (MiCA) license to four companies. This will allow them to operate in all 27 countries of the European Union.
Among the license holders are the cryptocurrency payment platform MoonPay, the digital asset management company BitStaete, the fintech company ZBD specializing in the Lightning Network, and the brokerage firm Hidden Road. This is stated in a report published on December 30 by the Netherlands Authority for the Financial Markets (AFM).
The Dutch regulator issued a long-awaited Markets in Crypto Assets (MiCA) license to four companies. This will allow them to operate in all 27 countries of the European Union.
Among the license holders are the cryptocurrency payment platform MoonPay, the digital asset management company BitStaete, the fintech company ZBD specializing in the Lightning Network, and the brokerage firm Hidden Road. This is stated in a report published on December 30 by the Netherlands Authority for the Financial Markets (AFM).
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XRP by Ripple has once again taken third place among the largest cryptocurrencies, surpassing the stablecoin USDT.
According to CoinMarketCap, at the time of publication, the price of XRP is approximately $2.47 with an increase of 2.64% over the last 24 hours. The market capitalization of the asset reached $141.62 billion.
For several years, the development of Ripple and its native token has been complicated by legal proceedings with the U.S. Securities and Exchange Commission (SEC). The regulator accused the company of the illegal sale of unregistered securities.
For several years, the development of Ripple and its native token has been complicated by legal proceedings with the U.S. Securities and Exchange Commission (SEC). The regulator accused the company of the illegal sale of unregistered securities.
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