🇪🇺🔗📖🇪🇺🔗📖 The European Union announced its requirements for the White paper for a crypto project. MiCA has established uniform requirements for information that should be available to investors and users
White paper as a legal document must contain the following information:
- about requirements for investors;
- about the issuer of the asset;
- about the trading platform on which the asset will be available;
- about the author of the document;
- technology, technical and financial side of the project;
- about mutual rights and obligations;
- about risks;
- about the main adverse environmental and climatic consequences of the consensus mechanism used to issue a crypto asset.
MiCA requires that the White paper be written in simple and understandable language, and most importantly, do not contain price forecasts.
It is assumed that the investor will make his decisions on the project based on this document.
Knowing the legal requirements, you can now look at the White paper and the project from a new angle.
#MiCA #WhitePaper #cryptolaw

🇺🇸 ⚔️🔗The US Securities and Exchange Commission (SEC) has asked the court to impose a fine on Ripple in the amount of $770 million for violating securities laws. The SEC believes that Ripple flagrantly violated federal securities laws when selling coins to institutional players. Now the court will disassemble each transaction into parts and, due to the large volume of materials, a court decision may be made next summer. But perhaps Ripple and the SEC will negotiate and find a compromise solution. #SEC #CRYPTOUSA #Cryptolegal #RippleSEC

🇪🇺🗡️🔗🇪🇺🗡️🔗The European regulator in the MICA rules has provided an obligation for all service providers to disclose to the regulator information about their partners and third-party companies with which such a supplier interacts. The main goal of such innovations is to prevent the use of crypto-assets for purposes that were not previously agreed upon with the user, to prevent the possible use of insider information, and to limit work with their affiliated companies. Everything should be as transparent as possible.
#MiCA #CryptoTalks #Cryptolaw

🇪🇺🔗🥊🇪🇺🔗🥊 MICA introduces strict requirements for crypto projects and obliges them to comply with GDPR standards in the field of data protection.
An important goal of the GDPR is to restore control over personal data to individuals by giving them the right to have their data deleted. To understand the importance of this issue, it is enough to recall the fine of 390 million euros that Meta was ordered to pay for non-compliance with the GDPR.
However, there is a problem with blockchain technology because the data placed on the chain remains there forever. Technically, this problem can be solved using encryption and maximum protection of encryption keys from access by third parties, or storing this data outside the blockchain, which in itself contradicts its essence. We believe that very soon our favorite crypto projects will face the GDPR and those who cannot cope with it will not enter the European market.
#MICA #Cryptolaw #cryptotax #gdpr

🇪🇺🔗💪🇪🇺🔗💪The European Union plans to introduce the MICA requirement, which requires that managers of crypto companies must be specialists with an impeccable financial and business reputation in Europe. They must also have a deep understanding of the cryptocurrency market, know what they are doing, and be able to respond appropriately to changes in the market. This requirement is aimed at increasing the confidence of potential investors and ensuring open, fair and long-term operation of projects in the field of cryptocurrencies. #MICA #CRYPTOTAX #Cryptolaw

🇪🇺🔗🚀🇪🇺🔗🚀 The European Union has established integrity criteria for crypto projects. One of the key requirements enshrined in MICA is the presence of a business plan and detailed documentation describing all the company’s business processes from the moment of its registration to the release of crypto assets, as well as risk management procedures. At the same time, the regulator does not require prior approval of the documentation, but may request it at any time. If any part of the documentation is not provided at the request of the regulator, it has the right to temporarily suspend the company's activities.
#MICA #CRYPTOTAX #Cryptolaw

🇪🇺🔗🇪🇺🔗🇪🇺🔗🇪🇺 In April of this year, the European Parliament adopted unified rules and requirements for projects that plan to operate with crypto assets in the European Union - MICA. The first MICA requirement for a company that operates in crypto assets is the presence of an office and physical location registered in Europe. This comes from the problem when the regulator does not know who and where to contact on issues of interest to him, where exactly to send his complaints, requests and generally exchange any information. MICA clearly stipulates that a company must have the status of a legal entity and have a legal, also known as actual, address. At the same time, the company can serve clients throughout Europe and in any other country.
#MICA #CRYPTOTAX #Cryptolaw

🇪🇺🔗🇪🇺The European Union has begun to tighten regulation for crypto projects. First, uniform standards were approved to determine who can provide services in this area, as well as registration requirements (MICA). Now the European Parliament has begun discussing amendments to tax legislation that will oblige crypto service providers to notify tax authorities about their activities and all transactions.
This means that in the near future we can expect the creation of a centralized body that will oversee service providers and take real action in case of violations. These innovations will primarily affect crypto wallets and assign them the functions of tax agents.
In general, it seems that the legalization of cryptocurrencies in the European Union is at the finish line, but there are still some steps left before its completion. 🇪🇺🔗🇪🇺
#MICA #Cryptolaw #cryptotax

🚀🇪🇺🚀🇪🇺🚀In April of this year, the European Parliament adopted common rules and requirements for MICA cryptocurrencies, which was also done in Hong Kong. These actions indicate the gradual legitimization of cryptocurrencies and their possible mass adoption, which will certainly affect their prices in the future.
#mica #cryptolaw