Changpeng Zhao (CZ), founder and CEO of Binance, tweeted, “With the official release of the EU Crypto-Asset Market Law MiCA in the EU, it means that crypto companies now have a clear timeline to implement and comply with MiCA’s requirements. Stablecoin rules will apply from June 30, 2024, and exchange rules will apply from December 30, 2024. We are already preparing and will be ready. European compliant companies will face exciting opportunities.”
As previously reported, the EU Crypto Asset Market Law MiCA was officially published in the EU Official Journal. MiCA will take effect a few weeks after being published in the EU Official Journal in June. Its provisions: providing cryptocurrency exchanges and wallet providers with licenses to operate within the 27-country group and requiring stablecoin issuers to hold appropriate reserves will take effect in 12 to 18 months.
