Well what is MICA? 

Market in Crypto Asset regulation (MICA) has been accepted by the markets of the countries especially in the European Union. 

MICA aims to create a regulatory framework for the European Union on trading, issuing, dealing and intermediating in crypto assets. 

It is expected to have licensing, requirements for the business and also a market abuse regime for the crypto businesses. 

This legislative framework is still unders structuring process. 

But let’s discuss some of the information which the issuers and other crypto service providers must be conscious of. 

A glimpse on the regulatory framework. 

Regulates the issuance and admission to trading of crypto assets , including transparency and disclosure requirements. 

Introduces licensing of crypto asset service providers , issuers of asset-referenced tokens and issuers of electronic money tokens. 

Clarifies the regulatory obligations applicable to issuers of asset-referenced tokens, issuers of electronic money tokens and crypto asset service providers including consumer protection rules for the issuance, trading, exchange and custody of crypto assets. 

Strengthens confidence in crypto asset markets by creating a market abuse regime prohibiting market manipulation and insider dealing. 

Clarifies the powers, including the co-operation and sanctions framework, available to competent authorities.

Who can these laws affect?

Issuers of crypto assets not necessarily a company but even an individual who is offering any type of crypto asset to the public must abide by these laws. 

Crypto asset Service provider which can include a third party intermediary who sells and buys the crypto assets in place of the buyers and issuers. 

Also the people who run their business based on these crypto assets must be aware of these legislation and regulations. 

CONCLUSION

Will these laws and regulations be a permanent solution for the rising scams and frauds in the crypto world which is leading to a lot of traumas and losses to the human both financially and mentally? 

Or will there be a consistent restructuring of these laws amidst its effectiveness for the present conditions? 

Well let’s be optimistic and be bold enough to face any situations as the future is clearly crypted.