Odaily Planet Daily News Binance said that with the upcoming European Crypto Asset Market Regulation (MiCA) Act, global stablecoin regulation will take a key step forward. The MiCA Act is the first comprehensive crypto regulatory framework that may promote the legalization of the global crypto industry. A Binance spokesperson said that MiCA will be a "key factor" in the development of comprehensive global stablecoin regulation: "By establishing clear rules for issuance, reserve management and redemption, MiCA enhances market stability and consumer protection, while also promoting innovation through legal certainty." It added that MiCA's comprehensive approach will become a "global benchmark" for other jurisdictions, which may seek to align their own frameworks with MiCA for more "cross-border compatibility." (Cointelegraph)