/biz/ - Business & Finance

In the wake of MiCA regulations bringing consensus to major institutional bodies in the EU, Crypto service providers are already falling in line with integrating KYC/AML standards into their plaforms.
The fundamental nature of stablecoins will be engineered to meet these regulations and must require backing with proof of reserve.
As many here predicted, the recent 2 trillion dollar dump in the market is being utilized as a call for the final say on crypto's relationship with global finance.
https://news.bitcoin.com/eu-makes-deal-on-mica-legislation-to-regulate-crypto-markets/

Tl;Dr
>EU agreed to MiCA
>27 countries introduce licensing for crypto companies and customer safeguards
>Justified as consensus on anti-money laundering regulations for cryptocurrencies