Ripple, Hedera, and Aptos Join

Key Points:

• Ripple, Hedera, and Aptos have formed the MiCA Crypto Alliance.
• The alliance aims to help crypto firms navigate the EU’s Markets in Crypto Assets (MiCA) regulations.
• Supported by the DLT Science Foundation, the alliance promotes compliance and innovation in blockchain.

The MiCA Crypto Alliance, featuring founding members Ripple, Hedera, and the Aptos Foundation, has officially been formed today. Underwritten by the DLT Science Foundation, it will support crypto firms in better navigating the new European Union regulation on Markets in Crypto Assets.

The regulation mainly focuses on establishing a transparent and sustainable digital asset ecosystem within the EU. The alliance aims to equip blockchain companies with tools to help ensure compliance, especially regarding disclosure of the impact of climate change.

MiCA Compliance

The new regulation is intended to compel CASPs to disclose the impact of climate change on their operations. However, many firms are struggling to meet the standards due to a lack of standardized compliance procedures.

The MiCA Crypto Alliance helps to overcome this hurdle by giving a suite of tools and resources that make it easier for its members to reach their goals in conformity with the regulation. These tools include sustainability assessments and white paper creation other words, a way to ease the process of firms seeking to adhere to the MiCA standards.

DLT Science Foundation’s Role

DLT Science Foundation is leading the alliance through strategic and technical support for its members. The Foundation is engaged with blockchain businesses and developers to ensure that companies will eventually be able to follow MiCA and foster innovation within the industry.

The alliance makes an extension of its mission to support transparency and sustainability in the crypto space by encouraging the use of US dollar-pegged stablecoins.

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