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EU’s Cryptocurrency Regulation Nears Finish Line, Catching Some Off Guard

Koos Couvée
London Bureau Chief

Sweeping new requirements for virtual asset service providers in the EU that take effect next month will trigger a reshuffle of current national supervisory arrangements, according to analysts, and probably spur a large reduction in the number of authorized platforms. The markets in crypto-assets regulation, or MiCA, a uniquely comprehensive framework that will subject cryptocurrency exchanges and other VASPs to rules aimed at promoting financial stability, preventing market abuse and safeguarding investors, will enter into force on Dec. 30 after securing parliamentary approval in June of last year. "Many smaller companies won't be able to cope with all the new...

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