Changpeng Zhao, CEO of Binance cryptocurrency exchange, said that the principles of regulation of crypto assets in the EU can become a global standard for the entire industry.
Speaking at the opening of the Binance Blockchain Week Summit in Paris, Changpeng Zhao stated that he believes the European Union’s Crypto Asset Markets Legislation (MiCA) has every right to be adopted globally as the standard governing the cryptocurrency industry. .
“The MiCA regulation can become a global regulatory standard that can be copied around the world. For example, instead of submitting dozens of applications for licenses in different countries, it is enough to submit one application in the EU and you will receive a permit,” Zhao said.
Former MEP Stefan Berger saidthat “since the MiCA regulation was the first of its kind, it can serve as a model for global imitation.” MiCA regulates the circulation of crypto assets and the activities of service providers in 27 EU member states.
Earlier, the European Central Bank (ECB) outlined its plan to license crypto activities and create a regulatory framework that regulates the industry in the EU.
Source: Bits
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