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Markets In Crypto-Assets
Markets in Crypto-Assets (MiCA or MiCAR) is a regulation in European Union (EU) law. It is intended to help streamline the adoption of blockchain and distributed ledger technology (DLT) as part of virtual asset regulation in the EU, while protecting users and investors. MiCA was adopted by the EU Parliament on 20 April 2023 and has been fully applicable since December 2024. Title The full name of the law is "Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937". The regulation is unofficially called "Markets in Crypto-Assets" (MiCA) or "Markets in Crypto-Assets Regulation" (MiCAR) for short. MiCA is part of a digital finance package that intends to transform the European economy. Function MiCA provides legal certainty around crypto assets – cryptocurrencies, security tokens and stablecoins. It is sim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Parliament
The European Parliament (EP) is one of the two legislative bodies of the European Union and one of its seven institutions. Together with the Council of the European Union (known as the Council and informally as the Council of Ministers), it adopts European legislation, following a proposal by the European Commission. The Parliament is composed of 720 members (MEPs), after the June 2024 European elections, from a previous 705 MEPs. It represents the second-largest democratic electorate in the world (after the Parliament of India), with an electorate of around 375 million eligible voters in 2024. Since 1979, the Parliament has been directly elected every five years by the citizens of the European Union through universal suffrage. Voter turnout in parliamentary elections decreased each time after 1979 until 2019, when voter turnout increased by eight percentage points, and rose above 50% for the first time since 1994. The voting age is 18 in all EU member states e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, Inc., Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson plc, Pearson sold the publication to Nikkei for Pound sterling, £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. In 2023, it was reported to have 1.3 million subscribers of which 1.2 million were digital. The newspaper has a prominent focus on Business journalism, financial journalism and economic analysis rather than News media, generalist reporting, drawing both criticism and acclaim. It sponsors an Financial Times and McKinsey Business Book of the Year Award, annual book ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blockchains
The blockchain is a distributed ledger with growing lists of records (''blocks'') that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a ''chain'' (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are resistant to alteration because, once recorded, the data in any given block cannot be changed retroactively without altering all subsequent blocks and obtaining network consensus to accept these changes. Blockchains are typically managed by a peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to a consensus algorithm protocol to add and validate new transaction bloc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EUR-Lex
EUR-Lex is the official online database of European Union law and other public documents of the European Union (EU), published in 24 official Languages of the European Union, languages of the EU. The Official Journal of the European Union, Official Journal (OJ) of the European Union is also published on EUR-Lex. Users can access EUR-Lex free of charge and also register for a free account, which offers extra features. History Data processing of legal texts at the European Commission started way back in the 1960s, still using Punched card, punch cards at the time. A system was being developed to capture relationships between documents and analyse them to extract and re-use metadata, but also to make retrieval easier. Through the years, the system and its scope grew as the Commission started collaborating with other institutions of the European Union and as the Union started Enlargement of the European Union, expanding. It was named CELEX () and soon became a well-used interinstit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Innovation And Technology For The 21st Century Act
The Financial Innovation and Technology for the 21st Century Act (FIT21) was a bill passed in the lower house of Congress in May 2024 to explicitly address the treatment of digital assets under U.S. law. The House Financial Services Committee asserts that the FIT21 Act is "an important step towards achieving regulatory clarity for digital assets", with intent to offer strong consumer safeguards and the regulatory clarity that is necessary for the digital asset industry in the United States to prosper. The legislation defines responsibilities between various US agencies, notably between the Commodity Futures Trading Commission (CFTC) for digital commodities and the Securities and Exchange Commission (SEC) for securities and firms that deal in them. The legislation has bipartisan support with both Democrats and Republicans sponsoring the bill. The proposed legislation excludes certain stablecoins from both CFTC and SEC regulation, "except for fraud and certain activities by regis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Of FTX
The bankruptcy of FTX, a Bahamas-based cryptocurrency exchange, began in November 2022. The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTX's accounts, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users. On 2 November 2022, ''CoinDesk'' published an article stating that Alameda Research, a trading firm affiliated with FTX and owned by FTX chief executive Sam Bankman-Fried, held a significant amount of FTX's exchange token, FTT. The article triggered a spike in withdrawals from FTX, but eventually, customers became unable to retrieve the money they had deposited in the exchange. On 11 November, FTX, Alameda Research, and over 100 affiliated entities filed for bankruptcy. Bankman-Fried resigned as FTX CEO and was replaced by John J. Ray III. The collapse of FTX has had a wide impact on cryptocurrency markets, with compariso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Binance
Binance Holdings Ltd., branded Binance, is the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters. Binance has been the subject of lawsuits and challenges from regulatory authorities throughout its history. As a result, Binance has been banned from operating or ordered to cease operations in some countries, and has been issued fines. In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses. The UK's Financial Conduct Authority ordered Binance to stop all regulated activity in the United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ECB Supervisory Board
The Supervisory Board of the European Central Bank is the main operational decision-making body within the European Central Bank on bank supervision matters, within the framework of European Banking Supervision. It meets twice a month to discuss, plan and carry out the ECB's supervisory tasks. It is not, however, the ultimate decision-making body, as it only prepares draft decisions for the Governing Council of the European Central Bank, Governing Council under a no-objection procedure. Overview The Supervisory Board is composed of a Chair, appointed for a non-renewable term of five years; a Vice Chair, chosen from among the members of the ECB's Executive Board of the European Central Bank, Executive Board; four members directly appointed by the ECB, known as ECB representatives; and representatives of national competent authorities. If the national supervisory authority designated by a Member State is not the country's national central bank, the representative of the competent a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elizabeth McCaul
Elizabeth McCaul has been a member of the European Central Bank's supervisory board since 2019. She previously served as superintendent of banks for New York state, and as the head of the New York State Banking Department. Before that, McCaul held senior executive positions at Promontory Financial Group, an IBM company. Career McCaul began her career in 1985 as an investment banker at Goldman Sachs, where she specialized in energy and project financing. New York State Banking Department In 1995, she joined the New York State Banking Department as chief of staff to Neil D. Levin, a former Goldman Sachs colleague who had been appointed superintendent of banks. McCaul became acting superintendent in 1997 upon Levin's departure, and she continued in that capacity for two years. She established the department's Tokyo office, its second permanent office outside the U.S. New York governor George Pataki nominated McCaul in December 1999 to become superintendent. Her nomination was confi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks with a balance sheet total of around 7 trillion. The Governing Council of the European Central Bank, ECB Governing Council makes monetary policy for the Eurozone and the European Union, administers the foreign exchange reserves of EU member states, engages in foreign exchange operations, and defines the intermediate monetary objectives and key interest rate of the EU. The Executive Board of the European Central Bank, ECB Executive Board enforces the policies and decisions of the Governing Council, and may direct the national central banks when doing so. The ECB has the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the volume must be approved by the EC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Banking Authority
The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in La Défense, Île-de-France. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures. The EBA has the power to overrule national regulators if they fail to properly regulate their banks. The EBA is able to prevent regulatory arbitrage and should allow banks to compete fairly throughout the EU. The EBA will prevent a race to the bottom because banks established in jurisdictions with less regulation will no longer be at a competitive advantage compared to banks based in jurisdictions with more regulations as all banks will henceforth have to comply with the higher pan European standard. History The EBA was established on 1 January 2011, upon which date it inherited all of the tasks and responsibilities of the Committee of European Banking Supervisors (CEB ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
