I'm changing stablecoins and here's why... (MiCa)

Dive deep into the world of cryptocurrency regulation with our comprehensive guide to the Markets in Crypto Assets (MiCA) framework in the European Union. This video provides an in-depth look at what MiCA is, the importance of Know Your Customer (KYC) processes, how the new EU regulations will reshape the crypto landscape, and specifically what these changes mean for stablecoins.

🚀 What You'll Discover:

Introduction to MiCA: Understand the basics of the Markets in Crypto Assets regulation and its objectives in the EU financial market.
KYC in Crypto: Explore the significance of Know Your Customer (KYC) processes in the context of MiCA and broader crypto asset management.
Implications of MiCA Regulations: Analyze how the new EU rules will affect trading, investing, and the operation of crypto assets, including compliance and governance.
Focus on Stablecoins: A detailed discussion on what MiCA means for stablecoins and how it could influence their usage and regulation.

🔥 Why Watch This Video:
Whether you're a cryptocurrency investor, a fintech professional, or just interested in the future of digital finance, this video offers crucial insights into one of the most significant regulatory frameworks affecting the crypto industry in Europe.

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🔹 Tags:
#Blockchain #Bitcoin #Cryptonews #Ethereum #MICA #cryptolaw #InvestmentOppertunities #CryptoTokens #CryptoCoins

⚠️Disclaimer⚠️
I am not a registered financial advisor. The videos on this channel are ment to be educational and entertaining only. In no way do I endorse trading or any other high risk products. Always make sure to do your own research and base your decisions on that.

[rockermilano]

the story is very different; the Mica regulation requires the stablecoin to keep 60% of the funds into a European bank, which then uses this money to make investments or lend it out, up to 90% keeping only 10% in cash, all things that if then they go bad, the bank blows up and the stablecoin drops to zero.. tether owns US treasury bonds, which it should sell and then keep hundreds of billions of euros into a European bank which by European law is only insured up to 100 thousand euros... crazy stuff, pure European madness very risky for our savings.. very bad choice

[tayalatawan]

what stable coin can i use then if usdt is not allowed in eu?

[otc]

Trc20 usdt as well?? Or just Erc20 usdt? Trc20 better?

[andreaskolokythas]

And what if you own small caps that can only be traded with usdt, which is the case nowadays? I will not be able to sell these crypto anymore. Something must be done about this.

[timmyify]

I get the feeling that the Euroc circles euro stablecoin is being set up as the future CBDC for the EU. I've completely got rid of USDT now but am considering DAI and others that are somewhat decentralized

[simonbackwash]

I though was "same risk same rules ", does Eu countries markets places are no longer allow to trade in USD ? Don't think so... Does trading firms are subject to similar KYC rules and amounts threshold?? I don't think so.

Those measures are pure tax grabs and slow down industry and Defi in particular (which will move offshore and in Asia to start with) and well done for all EU jobs and potential regulatory and more welcoming places from the US.

This is ridiculous and destructive to Blockchain industry as a all. It prepare stage for CBDC and pretty sure flat tax will apply to "regulated EU stable coins as well as pairs".

Well done EU ! Well done Mica... I thought we had done better and mostly had more nobles interest than the US Tradefi Lobbies

[notimportant]

Yeah that sounds scary actually. I've never trusted any stable coin, while USDC is probably better backed with Coinbase, even then it's had a depeg. Although I am interested in the flat coin being developed on cell frame.

[xpsESP]

Simple solution: Use DAI instead of USDT from now on. Correct?

[CarhalM]

Mica is here and usdt is still avaiable just got some 15 mis ago