Join the larget crypto conference of 2024 in Bitcoin

ECB boss says Bitcoin will not be covered by MiCA I

ECB boss says Bitcoin will not be covered by MiCA I 2

While responding to a market crash that has attracted public attention from all around the world, cryptocurrency staking and lending may soon fall under the jurisdiction of regulatory authorities, including Bitcoin.

When they appeared before the European Parliament on June 21, a week after cryptocurrency lender Celsius reported suspended all withdrawals, European Central Bank President Christine Lagarde became the first person to seek further oversight of the currently running system.

Lagarde pointed out that as current developments in this area are accelerating, thus a possible second and subsequent framework is already needed. While pointing out she subsequently referred to the Markets in Crypto-Asset (MiCA) Act, which will come into force across the EU by 2024.

   “MiCA II must regulate increasing crypto-asset staking and lending activities, which are increasing,” she said in her work position as head of the European Systemic Risk Board (ESRB).

Lagarde further warned that “Upcoming innovations that are not explored and undetected in these areas put consumers at risk, but a lack of control often leads to illegitimate valuation claims, speculation and fraudulent and completely illegal claims and at times even transactions involving criminals without any kind of checks within.”

It is noteworthy that Lagarde believes that decentralized finance (DeFi), which reportedly has the potential to pose as a “real risk to financial stability”,and thus it should be fully integrated and covered into the second regulatory framework, along with other financial third-party systems.

Thus, Bitcoin, the world’s leading cryptocurrency, which supposedly does not have a single defined issuer will also fall under this framework in the coming future.

“While the MiCA I does not cover Bitcoin,” she said. “Although hopefully it will be taken into consideration under MiCA II”

Last month, the head of the European Central Bank criticized cryptocurrency assets as “worthless” and that they don’t hold any real value and they are “highly speculative.” Hence, this second framework will also take care of regulations that pertain to the leading digital asset.

Earlier this, the ECB president also raised questions on the possibilities of the use case of cryptocurrencies by the Russian government agencies to bypass international financial trade restrictions. And also urged the other government agencies to bring a framework to kick out such possibilities.

Read also: CryptoCom will provide payment services under DPT: Singapore

ECB boss says Bitcoin will not be covered by MiCA I

 

https://bitcoinik.com/ecb-boss-says-bitcoin-will-not-be-covered-by-mica-i/feed/

https://bitcoinik.com/ecb-boss-says-bitcoin-will-not-be-covered-by-mica-i/feed/

 

 

 

 

 

Ads by Cryptonews24

 

Buy bitcoin and other cryptocurrencies on crypto exchanges:    Binance    Coinbase      Kraken      Bitfinex

EXPLOSIVE LTD is an investment company specializing in financial market trading. Our preferred market is commodities: EXPLOSIVE LTD have developed accurate expertise in trading gold, silver, crude oil, natural gas.

🔥 Explosive-X
Signup link: https://explosive-x.io/?ref=devplus
Started: 01/06/2022

💰 Investment Plans: 4% daily for 25 days (principal return end of the cycle)

Cancel Deposit after 24 hours with a 15% fee

Withdrawal: Manual (Max 12 hours)

📥 Minimal deposit: $10 – Maximum deposit: $50.000

📥 Minimal withdraw: PM $1 , BTC $10 ,LTC $5 ,ETH $20
XRP $5 ,DOGE $5 ,USDT ERC20 $20 ,TRX $5 ,XLM $5
USDT (TRC20 BEP20) $5 , USDT TRC20 5$ , BNB $5 ,BCH $5

🤝 Referral program: 6% – 2%

Career Bonus:
$1000 Direct active referrals: $40 Bonus
$2500 Direct active referrals: $100 Bonus
$5000 Direct active referrals: $250 Bonus
$15,000 Direct active referrals: $600 Bonus
$50000 Direct active referrals: $2500 Bonus

Sign Up : https://explosive-x.io/?ref=devplus

—————————————————————————————————————-

BN Trust
📣24 hours trading, every two hours, you can earn more than 5% profit per day
Invest $100 (30 days) and get $432
Invest $300 (30 days) and get $1297
Invest $500 (30 days) and get $2161
Invest $1000 (30 days), get $4320
Invest $5,000 (30 days) and get $21,610
Invest $10,000 (30 days) and get $43,200

💵Minimum deposit amount is $20.
The minimum withdrawal amount is $10.
Cash out anytime!
The higher the capital, the more you earn

🖇Operation registration link https://www.bn-trust.com/#/register?sharecode=kBrco2

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

Please follow and like us:

Social media & sharing icons powered by UltimatelySocial