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What is the mica Bill?

The MiCA bill is the crypto equivalent of Europe’s Markets in Financial Instruments Directive (MiFID), which is a framework for traditional financial instruments and investment.

What does Biden's 'mica' Bill mean for cryptocurrencies?

On March 9, President Biden signed an executive order directing the federal government in the US to implement a strategy for regulating cryptocurrencies. And on March 14, the European Parliament voted on the wording of the Markets in Crypto Assets (MiCA) bill, which will now be put forward to the European Commission.

What does Mica mean for a stablecoin issuer?

MiCA proposes a “bespoke” framework to regulate “significant” stablecoin issuers, and will force them to comply with stronger capital, investor and EBA supervisory requirements. This includes rules and further requirements on governance, conflicts of interest, reserve assets, custody, investment and the accompanying whitepaper. 5.

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