XRP to be Included in MiCA Regulations, But with a Twist
SMQKE, a crypto researcher and XRP community figure, shares his belief that XRP will be subject to the upcoming MiCA regulation. The pundit first presented his argument last month, referencing research papers from the Banque de France and the Markets in Crypto-Assets (MiCA) regulation. The Banque de France report discussed CBDCs, crypto assets, and the tokenization of finance.
MiCA Covers Utility Tokens
The research papers highlighted MiCA as crucial for the EU’s digital assets framework. They suggested that MiCA would govern stablecoins, utility tokens, and other assets like Bitcoin. SMQKE shared a report stating XRP is a utility token under MiCA, but the document’s source is not European financial authorities.
Does the EU Consider XRP a Utility Token?
Further evidence pointed to the EU regarding XRP as a utility token. The UK FCA recognized XRP as such, but the FCA isn’t an EU agency due to Brexit. XRP’s status in the EU is crucial for regulatory clarity and institutional adoption within the bloc.
The European Corporate Governance Institute notes #XRP was not found a security by the court in this recent paper, “Corporate Governance Meets Data and Technology.”https://t.co/o1iKC6jqRS pic.twitter.com/uJ0bDpKfJE
Ripple’s Managing Director for Europe and the U.K., Sendi Young, mentioned the company’s expansion into the EU, with MiCA potentially aiding regulatory clarity for Ripple’s European operations.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed may include the author’s opinions and do not reflect The Crypto Basic’s stance. Readers should conduct thorough research before making investment decisions. The Crypto Basic is not liable for any financial losses.
-Advertisement-
Source link
#XRP #Covered #MiCA #Catch
