EU's MiCA Legislation Establishe Regulatory Framework for Crypto Asset

On June 9, the European Union's MiCA legislation, 

aimed at establishing a consistent regulatory framework for crypto assets among member states, was published in the Official Journal of the EU. The law will come into effect on December 30, 2024, with certain provisions starting on June 30, 2024. The legislation includes registration and authorization requirements for crypto issuers, exchanges, and wallet providers. It also sets security standards for stablecoin issuers and cryptocurrency custody services. The MiCA legislation aims to prevent market abuse and manipulative behavior. Meanwhile, US regulators have taken action against Binance and Coinbase, alleging various violations.