EU Regulators Call For MiCA 2.0 For Better Crypto Regulation

The latest news report suggested that the European Union regulators are poised to create MiCA 2.0 aside from the already existing version, MiCA 1.0. Christine Lagarde, the European Central Bank President, and François Villeroy de Galhau, the Governor of the Bank of France, have both asked the Commission to introduce an updated version. Coming too soon is unlikely but envisaged issues will include DeFi, utility tokens, token generation, liquidity pooling, and more.

Chief Regulatory Compliance Officer at Keyrock Laura Chaput believes that marketmakers should understand how new laws might beneift or adversely affect the sector and align their strategies in response to regulatory shifts. Key topics for regulators and interested market players include Anti Money Laundering (), data protection, travel restriction, and other yet to be identified issues. As a potential precursor to any such move, Anne-Sophie Cissey, Chief Legal Officer at Flowdesk, calls for equally comprehensive serving the decentralized finance sector. As consumer protection is a priority regulation, crypto entities must be given reasonable time to adapt in hopes of avoiding an overwhelming loading of legal frameworks.

Lastly, critically acclaimed CEO of Monerio, Jon Helgi posted his sentiments which agree with Lagarde’s and de Galhau’s emphasis on MiCA 2.0, citing the current MiCA to already adequately cover much of the sector. Helgi’s wishes focused on specific new topics such as token classification, token origins, liquidity pools, and topics prescribed above which were not accorded the primacy of MiCA 1.0. He suggests the MiCA 2.0 acting only as an addendum to existing regulations rather than reinstating others.

Robert Wilson author
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