Ireland will promote financial democratization through the EU MiCA regulation

ChainCatcher news, according to the official website of the Central Bank of Ireland, Ireland is promoting financial democratization through the European Markets in Crypto-Assets Regulation (MiCA). Derville Rowland, Deputy Governor of the Central Bank of Ireland, stated at the European Compliance and Legal Conference that Ireland is committed to promoting the application of cryptocurrencies under the premise of secure innovation, particularly the positive impact of blockchain technology in the fields of investment and infrastructure.

The MiCA regulation introduces a unified regulatory framework for the cryptocurrency sector, regulating electronic money token issuers and crypto asset service providers. Rowland emphasized that Ireland will work closely with European regulators to ensure consistent implementation of the regulations and avoid regulatory discrepancies. At the same time, Ireland will promote financial inclusion and innovation by improving the business authorization process, consolidating its position in the rapidly growing crypto industry.