Cryptocurrency Canada – The European Banking Authority (EBA), a Paris-based organization, is looking to hire bitcoin specialists, according to a job posting. In an effort to get ready for the future Markets in Crypto Assets Regulation (MiCA) law, action was taken. Large stablecoins will be governed by the EBA as per the rules. Moreover, the agency will develop regulations to fill in any holes left by lawmakers in the MiCA framework.
In the notice, the EBA noted that it was looking for a candidate with extensive knowledge of cryptocurrency-related goods and services. Also, the business is looking for applicants who have substantial experience managing financial organizations.
José Manuel Campa, the chair of the EBA, previously stated to the Financial Times that the EBA was afraid that it wouldn’t be able to implement the MiCA if it couldn’t find the requisite trained individuals.
The Economic and Monetary Affairs Committee of the Parliament voted in favor of the MiCA Act in October by a margin of 28 to 1. Also, the idea has been approved by national diplomats.
The outcome indicates that the much-anticipated MiCA laws in Europe will go to a final vote on April 19. In June of last year, the political foundation of the law was declared complete. But, reaching a consensus on the legal language has run across various roadblocks. The necessity for translation lengthens the delay.
Also, the discussion of the transfer-of-funds rule will follow the discussion of the MiCA. The rule, which was also conditionally adopted in June, would require cryptocurrency service providers to verify the identity of their customers.
The law issues licenses to cryptocurrency companies, including as wallets and exchanges, so they can operate throughout the EU. Stablecoin reserves are also added under the rule. If approved, it would go into effect between one and three years after being published in the EU’s official journal.
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