The cryptocurrency industry is not ready for MiCA, according to Delphine Forma, Head of UK and EU Policy at Solidus Labs.
MiCA, which stands for Markets in Crypto-Assets Regulation, has been around for a while but will come into force on December 30, 2024.
Forma highlighted that many in the industry do not fully understand the MiCA regulations and there will be no enforcement action leeway for non-compliance.
Regulators in some countries are not ready for MiCA implementation, causing a fragmented landscape for crypto companies operating in the EU.