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MiCA was published in the Official Gazette
MiCA, the landmark crypto law of the EU, has been published in the Official Gazette. This move means that key licensing, stablecoin and anti-money laundering rules are in effect from December 30, 2024.
European Union's Crypto Asset Markets law (MiCA) was published today in the Official Journal of the European Union (OJEU). With this development, time is ticking for important crypto licensing rules to take effect.
The entire law, published alongside the relevant legislation, requires crypto wallet providers to identify their customers when they transfer funds. MiCA offers licenses to crypto companies such as exchanges and wallet providers to operate across the blockchain. In addition, MiCA introduces new governance and financial requirements for stablecoin issuers.
The publication of nearly 200-odd pages of legislation indicates that a bill has officially entered the EU's law book. In legal terms, the two laws will come into effect within 20 days and their provisions will be implemented on 30 December 2024. Some provisions will enter into force a little earlier, on 30 June 2024.
Representing the EU's 27 member states, the Council unanimously approved the MiCA regulation, making the bloc the first major jurisdiction in the world with a crypto licensing regime. It also adopted new anti-money laundering measures regarding crypto fund transfers.
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#NewMessenger# New Draft Stablecoin Bill Ready
Republican chairman of the House of Representatives Financial Services Committee reported that they are preparing a new draft of the bill to oversee stablecoins. The draft also includes the opinions of Democratic lawmakers.
The draft is still in draft form and will be discussed at the committee session on 13 June. Many point out that this move by the US towards crypto regulation has made a significant headway in terms of reconciliation between the two parties.
A committee spokesperson says he thinks this new draft, which is shorter than the previous ones, will receive positive points from Republican committee members. This version requires the Fed to set new rules regarding the issuance of stablecoins, but government regulators will still be able to oversee token issuers.
The draft gives the Fed several additional powers, including the power to intervene against government-regulated issuers in emergencies. In addition, according to the draft, states will be able to delegate their inspection duties to federal observers.
Chairman of the panel, Patrick McHenry (R-N.C.), stated that he considered stablecoin legislation a priority until last year before he took over the committee. But when he took office, he did not heed, although democrats complained that republicans were re-forming the bill without their own opinion. Now, the democrats' opinion on the draft is not yet clear.
If the bill is passed by both committees of Congress, the first US regulations on behalf of stablecoins will be launched.
In addition, the draft does not include the part of the previous draft that calls for work on the digital dollar.
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Organized by Agro Global Token and discussing the future of agricultural technologies, Agro Global Summit hosted more than 200 distinguished participants.
At the event, he announced his cooperation plans for success in the crypto world and real agriculture. The UK-based agricultural company stated that it will continue its investments in agriculture and food, which is very important for the future of new generations, with blockchain technology.
A wide audience consisting of academicians who are experts in agriculture and technology, business people from various sectors, influential social media figures and members of the press came together at this special event.
Among the keynote speakers of the event, Agro Global Token CEO Orkut Kaksa, Ali Zihnioğlu and Prof. Dr. Metin Turan took part. These important names made comprehensive presentations on the future of agriculture and technology integration.
Orkut Kakşa, CEO of Agro Global Group, said, “As a team, we started to purchase land by increasing the profitability of the company in a period of 1 year. As of January 2022, we stepped into the blockchain industry with our experts in real agriculture and our professional teams in the field. We continue to work with all our strength in the development process of Agro Global Token by addressing the dynamics of the sector and the problems in agriculture with our team of 32 people in the field.
“By integrating real agricultural activities with blockchain technology, we will continue sustainable agricultural growth, while ensuring that even those who are not involved in agriculture receive a share of agricultural income through a reliable digital currency.”
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