{"id":690,"date":"2024-09-11T14:39:05","date_gmt":"2024-09-11T12:39:05","guid":{"rendered":"https:\/\/pixelpai.com\/?p=690"},"modified":"2024-09-11T14:39:05","modified_gmt":"2024-09-11T12:39:05","slug":"is-eus-micar-leaving-the-u-s-in-the-dust-of-crypto-compliance","status":"publish","type":"post","link":"https:\/\/pixelpai.com\/is-eus-micar-leaving-the-u-s-in-the-dust-of-crypto-compliance\/","title":{"rendered":"Is EU\u2019s MiCAR leaving the U.S. in the dust of crypto compliance?"},"content":{"rendered":"
Companies globally are feeling the pressure as they try to keep up with changing crypto regulations. The U.S. and the EU, for example, are taking very different routes, and each with its own challenges and opportunities. But, let\u2019s look at Prometheum<\/strong><\/a>, a digital asset company in the U.S., as a prime example.<\/p>\n Prometheum decided to cooperate with the U.S. Securities and Exchange Commission (SEC)<\/a> <\/strong>and secured a license to trade digital asset securities. This move might seem like a smart play, but it has sparked a heated debate. Why? Because Prometheum has chosen to classify tokens like Uniswap<\/a><\/strong> and Ethereum<\/a><\/strong> as securities. Some see this as a bold, clear-cut approach, while others argue it adds to the confusion in an already unclear regulatory landscape. So, is Prometheum taking a big gamble?<\/p>\n The regulatory scene in the U.S. is far from straightforward. Businesses often find themselves asking: Is this token a security? A commodity? Or something else entirely? The SEC\u2019s stance has led to a lot of uncertainty and differing interpretations, making it a risky terrain for companies to navigate.<\/p>\n Prometheum\u2019s choice to treat many tokens as securities points to just how tricky it is to operate in such an ambiguous environment. But it also raises a bigger question: Should the U.S. create a clearer, more defined framework for digital assets to help companies find their way?<\/p>\n Meanwhile, the European Union<\/a><\/strong> is taking a more structured approach with the introduction of the Markets in Crypto-Assets (MiCA) regulation. MiCA is designed to create a clear set of rules for the entire EU, providing consistency in how digital assets are classified and regulated. While certainly not perfect in its first version, MiCA is a big step toward reducing the uncertainty that has plagued the U.S. market. By offering one set of guidelines for all member states, MiCA not only simplifies the compliance process but also gives companies a more predictable legal environment to work in.<\/p>\n For companies like ours<\/a> building Web3 compliance infrastructure, MiCA’s clarity is invaluable. Unlike the U.S., where state and federal regulations often conflict, the EU\u2019s unified MiCA standard offers a clear path forward, fostering innovation within a stable legal framework.\u00a0 Its detailed classification system for digital assets- e-money tokens, asset-referenced tokens, and other crypto-assets- helps companies understand applicable regulations. For those pursuing CASP (Crypto-Asset Service Provider) and e-money licenses, MiCA proposes a compliance roadmap, enabling confident, certain operations within the EU\u2019s legal structure.<\/p>\n As MiCA takes effect, it\u2019s set to become a new global standard for crypto regulation. While the U.S. is still figuring out its regulatory approach, the EU\u2019s comprehensive framework could serve as a blueprint for other regions looking to balance innovation with investor protection.<\/p>\n Companies globally are feeling the pressure as they try to keep up with changing crypto regulations. The U.S. and the EU, for example, are taking very differ","protected":false},"author":2,"featured_media":692,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","entry"],"acf":[],"yoast_head":"\nRead Financial Times’<\/strong><\/a> full article here.\u00a0<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"