The EU reached a provisional agreement on the MiCA earlier this year, 2022, which attempts to regulate crypto-assets, trading venues, and crypto-wallets.
Cryptocurrency traders and investors alike now have some clarity about the industry’s future in 2024 once the regulations come into effect.
He admitted that the MiCA fell short of offering guidance on NFTs.
Kerstens added: “If we don’t act on it, we’ll have a lot of explaining to do, and I think we’ll end up having an unhappy parliament.
Currently, MiCA only applies to fungible tokens, but Kersten again stated that there is “a lot of prose” in the final draft concerning exactly when self-proclaimed NFTs might fall under the law, although the framework doesn’t always get it right.
Source: NFTNewsToday.com
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