Why MiCA Won't Protect Your Crypto Investments Until December 2024

<p>The
European Securities and Markets Authority (ESMA), the EU's financial watchdog, today
(Tuesday) issued statements urging member states and market participants to
prepare for the transition to the Markets in Crypto-Assets Regulation (MiCA).
The regulation aims to standardize crypto-asset activities across the EU,
enhancing consumer safeguards and market stability.</p><p>ESMA's Crypto Call to
Action</p><p>ESMA Chairwoman Verena Ross has addressed a letter to the Economic and Financial Affairs
Council (ECOFIN), urging Member States to promptly designate competent authorities for <a href="https://www.financemagnates.com/tag/mica/" target="_blank" rel="follow">MiCA </a>implementation. Ross also suggests limiting the optional
"grandfathering" period to 12 months for jurisdictions that choose to
offer it. </p><p><a href="https://www.esma.europa.eu/press-news/esma-news/esma-encourages-preparations-smooth-transition-mica" target="_blank" rel="nofollow">ESMA has
outlined expectations</a> for national authorities and crypto-asset service
providers, encouraging them to align their supervisory practices for effective
<a href="https://www.financemagnates.com/terms/r/regulation/">regulation</a> from day one.</p><blockquote><p lang="en" dir="ltr">