Zhao Changpeng: The EU's cryptocurrency market regulatory framework may become the global standard

Chain Catcher news, Zhao Changpeng stated at the opening ceremony of Binance Blockchain Week held in Paris on Wednesday that the EU's Markets in Crypto-Assets (MiCA) legislation could be adopted globally as a regulatory standard, benefiting cryptocurrency entrepreneurs and businesses. "Instead of applying for 27 licenses, you only need to apply for one to get the license."

However, Zhao Changpeng also expressed some concerns about MiCA, particularly its limitations regarding stablecoins. The current MiCA report restricts the issuance of stablecoins pegged to the US dollar, which could ultimately lead to their ban from entering the EU.

It is reported that MiCA regulates cryptocurrency and service providers across the 27 EU member states. In June of this year, the EU reached an agreement on MiCA, which has since been widely welcomed by the cryptocurrency industry as a means to enhance credibility and streamline the previously fragmented regulatory landscape. (The block)