🔐 Regulation of Crypto Assets: How Does It Affect Your Portfolio? 📉
📌 MiCA (EU) and GENIUS Act (USA) — Key Regulations Shaping the Future of the Crypto Industry.
🇪🇺 In Europe, MiCA comes into effect in 2024. Binance is restricting the use of unregulated stablecoins, such as USDT and DAI, for users in the EU. These tokens can only be sold, not bought. It is recommended to convert assets into MiCA-compliant stablecoins, such as USDC or EURI. ⚠️
🇺🇸 In the USA, the GENIUS Act regulates stablecoins, setting requirements for reserves and oversight. The bill has received broad support and is now awaiting consideration in the House of Representatives. It is important to note that the law does not prohibit members of Congress and their families from profiting from stablecoins, unlike other public officials. 🏛️
🔄 What Does This Mean for You? If you are in the EU, make sure your assets comply with MiCA to avoid restrictions. In the USA, keep an eye on the developments of the GENIUS Act and its impact on the market. 📊
