The European Union has taken a significant step towards regulating cryptocurrencies by adopting the Market in Crypto Assets (MICA) law, which has been approved by the Commission on Economic and Monetary Affairs of the European Parliament. In this article, we will discuss what the law is, how it will impact the digital coin industry, and how crypto rates have reacted to this development.
The regulation was approved with 28 votes in favor and only one against. It will now undergo testing by lawyers and linguists before being submitted to the plenary session of the European Parliament. If it passes this process, it will be published in the Official Journal of the European Union and come into effect in 20 days. Companies will have an adaptation period of 18 months, and its actual implementation will not begin until at least 2024. Interestingly, coin prices crypto hardly reacted to the adoption of the MICA law.
Overview of MICA
According to the European Commission, the purpose of this law is to “ensure that the European Union embraces and leads the digital revolution with innovative European companies at the forefront so that the benefits of digital finance are within reach of all consumers and businesses in Europe.”
Regulated Crypto Platforms in the EU
One of the top regulated cryptocurrency exchanges in the EU market is the WhiteBIT platform. It offers the most popular coins and allows users to track cryptocurrency live charts and buy tokens with the lowest commissions. There are several trading options available on the site, including spot, margin, P2P, and futures. Cryptocurrency rates can be tracked on charts in real-time.
Experts believe that the MICA law is good for the cryptocurrency market and will allow for mass entry into the consumer market, as well as improving the industry’s image in society. WhiteBIT is considered one of the most popular and convenient regulated exchanges in the EU market.
Where Can I Find Live Crypto Prices?
You can find up-to-date crypto prices on the WhiteBIT crypto exchange. The exchange offers live crypto charts that show the asset’s price changes during a particular period, and you can also find patterns and historical indicators that can help you predict future price trends. This information can be valuable if you are engaged in futures trading and need to forecast price changes in the future.
WhiteBIT provides a user-friendly interface and numerous trading tools, such as staking, futures, margin, p2p, spot markets, etc. By using the spot market tool, you can conduct operations with digital coins at live crypto prices.
The platform also offers a White Blog, which is a resource with many valuable articles and guides on trading using different strategies. The detailed instructions can be followed simultaneously using the WhiteBIT demo account, which implies demo tokens that you can use to practice trading without fear of losing your investments. By connecting the demo trading with White Blog educational articles, you can learn about trading and understand how crypto prices behave in a short time.