
Swarm Markets Preps for MiCA Stablecoin Regime with Gold NFT Offering
Just days ahead of the implementation of the EU’s MiCA stablecoin regulations, Swarm Markets, an RWA platform, is making a strategic move.
Just days ahead of the implementation of the EU’s MiCA stablecoin regulations, Swarm Markets, an RWA platform, is making a strategic move.
Though the anticipation for MiCA has gone into full throttle, ESMA has warned national regulators against allowing what it calls ‘letterbox’ entities.
The “enhanced” registration requirements will be effective from January 1, 2024.
The move follows the collapse of the FTX exchange back in November 2022, as well as the recent banking crisis.
French MEP Aurore Lalucq’s main concern is money laundering and other criminal practices. Therefore, she wants to see more regulation of the cryptocurrency sector.
The discussion will continue till June 30. Then, the EU is expected to announce the final decisions at a meeting of representatives from the European Parliament, the European Commission, and the Council of the European Union.
With the increasing number of crypto-asset services providers (CASPs) in the EU, institutions of the European Union are called for accelerating the process of finalizing the Regulation on Markets in Crypto-Assets (MiCA). While the EU is still finalizing the law, Lithuania decided to be ahead of the game.