Home > NEWS > European Union Postpones Its Final Vote On MiCA Regulation; Here’s Why

European Union Postpones Its Final Vote On MiCA Regulation; Here’s Why

Previously, the European Union postponed the vote to February 2023 in November 2022 due to technical difficulties.

EU national news reports:ThisWesternersNew landmark laws in EU countries, the industry is inEncrypted propertyPolicies and regulations (MICA) have been postponed because of technical difficulties. But the final online vote must now be held until April.

A spokesman for the European Parliament told reporters that the delay was "technical" and was probably due to problems in translating the nearly 400-page document into 24 official languages of EU countries.

EU National Assembly postponed

EU countries have postponed the online vote until November 2022, February 2023. However, they are concerned that the technical difficulties in the jumbled text could lead to a delay in the implementation of the licensing system in 2024.

To be a little inferior meansCommon faults in FTXEU officials say mica could have avoided such a collapse. However, the law has a major flaw that allows departments such as FTX to provide services to users in EU countries without additional controls.

The nearly 400-page text needs to be formally approved by lawmakers. In addition, it also includes the governments that make up the European Union's national administrative committees. Although lawmakers in Europe have normally approved the law, the law also makes it clearSteady chipIt hasn't even been approved by his announcement. All 27 member States will also have an immediate impact on the law, but regulators around the world will bear the burden of its implementation and interpretation to a certain extent.

French policy makers promote authorized encryption companies

In addition to mica, other policies and regulations have been postponed. In addition, the same online voting phase in April will now be used under the Asset transfer regulations (TFR). However, this is also prepared to be carried out at the same time as mica. TFR requires that all encrypted transmissions include the understanding of your customer data by both the receiver and the receiver.

Before mica, some European countries had promoted stricterLogin password control. But because of the turmoil in encrypted financial markets for a year. French policymakers and Fed chairmen, for example, have promoted compulsory licensingEncryption enterpriseIn 2023.

Please also refer to: Alice, the neighbor next door: beginners to play encrypted mobile games.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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