New era for crypto with MiCA rules

EU’s MiCA to fill legislative void, but stakeholders still vary over authorities’ stance Entrepreneurs in the island’s booming high-tech and fintech industries have welcomed the passing of an EU directive regulating crypto assets, pushing Cyprus to finally introduce a legislative framework despite the authorities being reluctant to do so. The European Parliament had approved the Markets in Crypto Act (MiCA) in late April, which will come into force next year and has been hailed as a “landmark moment” for cryptocurrencies that will lay the ground rules for doing business with the likes of Bitcoin. With MiCA, Europe became the first