💣 Regulatory Impacts: 🇧🇷 Brazil and 🌍 Europe Face Pressure on Virtual Asset Self-Custody

💣 Regulatory Impacts: 🇧🇷 Brazil and 🌍 Europe Face Pressure on Virtual Asset Self-Custody

💥 Europe Moves Forward with MiCA, But at What Cost?

The implementation of the Markets in Crypto-Assets Regulation (MiCA) on December 30, 2024, has sparked a wave of concerns. The emphasis on controlling transactions involving non-custodial wallets and the mandatory traceability requirements have significantly increased operational costs for virtual asset service providers (VASPs).

✅ Tough Regulations, Reduced Competitiveness

🔣 Regulation (EU) 2023/1113 mandates detailed identification of all parties involved in transactions, in line with FATFguidelines for monitoring illicit activities.

🔣 European CASPs are facing surging compliance costs and raising concerns about their economic sustainability under these stringent rules.

🔣 The phrase "US innovates, EU regulates" echoes louder than ever, particularly as the United States debates deregulation policies.

🔍 An Uncertain Future for the Virtual Assets Sector

With regulators tightening their grip, striking a balance between innovation and compliance is becoming an increasingly daunting challenge for 🇧🇷 Brazil and 🌍 Europe.

📢 #CryptoRegulation #InnovationOrSetback #SelfCustody

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