๐ช๐บ Major: Gemini and Coinbase are about to obtain MiCA licenses in the European Union! ๐
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โ Upcoming European approvals:
According to Reuters, the platforms Gemini and Coinbase are preparing to obtain comprehensive MiCA (Markets in Crypto Assets) licenses across the European Union. ๐ช๐บ
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๐ก Importance of MiCA for platforms:
* Comprehensive access: MiCA licenses allow platforms to operate legally and uniformly in all 27 EU member states, eliminating the need for separate licenses for each country. ๐
* Trust and clarity: MiCA provides a clear regulatory framework for platforms, enhancing trust and legitimacy in the digital asset sector. ๐ก๏ธ
* Boosting competition: These regulations are expected to enhance competition and attract more traditional players to the European crypto market. ๐
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๐๏ธ Implementation context:
Some parts of the MiCA regulation will come into effect in June 2024, with the majority related to Crypto Asset Service Providers (CASPs) fully coming into effect on December 30, 2024. โณ The major platforms obtaining these licenses demonstrate their commitment to compliance.
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