The EU MiCA crypto law requires potential crypto license holders and their executives to have a good reputation

2023-10-20 22:18:54

Collection

ChainCatcher news, EU regulators have released a consultation opinion on a series of issues regarding the EU's landmark new crypto law MiCA regulation. According to the banking-style rules proposed by EU regulators, shareholders of cryptocurrency companies holding more than 10% will undergo background checks for criminal records or sanctions.

MiCA will allow crypto companies to operate within the 27-member bloc, and if executives do not meet the requirements, the MiCA authorization will be revoked. The consultation will be open for feedback until January. The EU regulatory bodies responsible for banking and securities market laws, EBA and ESMA, stated that shareholders and board members of crypto asset service providers "must not have been convicted of crimes related to money laundering or terrorist financing or any other crimes that would affect their good reputation," and this condition must be "maintained at all times."

(Source Link)

Related tags

European Union MiCA

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.