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    Two digital asset proposals are approved by the European Council

    Two digital asset proposals are approved by the European Council

     

    The proposed plan to regulate digital assets such as crypto coins by the European Union is one step closer to becoming official. The European Council that is in charge of the European Union’s political steps has declared their position on Markets in Crypto Assets (MiCA) this Wednesday. 

     

    The MiCA framework has been created to protect the investors and buyers of crypto assets, which includes that the investors money is totally safe from hacks. Suppose the authorities think that any crypto exchange platform is creating issues and can cause trouble for investors and buyers of crypto assets, they can take disciplinary measures against those crypto exchange platforms. The other aim of MiCa includes regulating the stablecoins such as Facebook’s Libra, which will be backed by other fiat currencies. 

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