The landmark legal framework, which has not yet been made into law, aims to provide regulatory clarity to the growing crypto industry in Europe. The legislation – which policymakers agreed to last month after nearly two years of debate – requires crypto issuers looking to do business in Europe to issue a white paper, register with authorities, and, in the case of stablecoins, have fully-collateralized reserves.
Source: https://www.coindesk.com/policy/2022/08/10/eu-official-says-europes-mica-bill-would-prevent-schemes-like-terra-from-happening/?utm_medium=referral&utm_source=rss&utm_campaign=headlines