2023 has seen a sharp rise in focus on digital asset regulation. Numerous legal frameworks have been put forward for consideration across the globe to boost the safety and integrity of this industry. The EU’s adoption of MiCA is arguably the most prominent case.
And yet, even though many countries have realized the importance of rules in creating a safe crypto market, we are still far from seeing wider adoption of digital assets.
Why is this the case? Let’s take a closer look.
The current state of EU regulation: how does it impact crypto adoption?
Much about crypto regulation is still at the development stage since this market is very dynamic. Many of its various sub-fields are still not understood well enough by regulators to develop clear laws. Furthermore, having clear-cut rules means that different countries need to have a uniform approach to handling crypto assets.
In the European Union, these issues are expected to be resolved by introducing the MiCA (Markets in Crypto Assets
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