A naukri.com initiative
Fintechreview
3w
201
Image Credit: Fintechreview
Should The UK Make a Move for a Stronger Cryptocurrency Position in 2025?
- The introduction of the EU's MiCA regulation has brought uncertainty and regulation to the cryptocurrency sector in Europe, raising concerns about stifling innovation.
- MiCA is the first attempt at crypto regulation worldwide, aiming to protect investors and ensure financial stability while balancing industry innovation.
- Challenges with MiCA include delayed regulatory technical standards publication, concerns about industry development restrictions, increased costs for consumers, and volatile stablecoin rules.
- The UK could learn from MiCA's issues to strengthen its cryptocurrency position, with opportunities to improve regulation, attract businesses impacted by MiCA, and enhance its global market standing.
- The UK's Financial Conduct Authority is developing its own crypto regulatory framework, using lessons from MiCA to potentially create more effective regulations.
- Regulation in the cryptocurrency sector is seen as crucial to protect investors and promote innovation, with MiCA serving as a starting point for improvement by other territories, including the UK.
- Peter Curk, CEO of ICONOMI, emphasizes the importance of accessible crypto investing and how regulatory advancements can benefit the sector's future growth and security.
Read Full Article
12 Likes
For uninterrupted reading, download the app