{"id":517564,"date":"2022-11-29T00:55:00","date_gmt":"2022-11-28T21:55:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ecb-president-reiterates-calls-for-mica-ii-in-response-to-ftx-collapse\/"},"modified":"2022-11-29T00:55:00","modified_gmt":"2022-11-28T21:55:00","slug":"ecb-president-reiterates-calls-for-mica-ii-in-response-to-ftx-collapse","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ecb-president-reiterates-calls-for-mica-ii-in-response-to-ftx-collapse\/","title":{"rendered":"# ECB president reiterates calls for &#8216;MiCA II&#8217; in response to FTX collapse"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23e50029fa5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23e50029fa5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ecb-president-reiterates-calls-for-mica-ii-in-response-to-ftx-collapse\/#%E2%80%9D_ECB_president_reiterates_calls_for_%E2%80%98MiCA_II_in_response_to_FTX_collapse_%E2%80%9C\" >&#8221; ECB president reiterates calls for &#8216;MiCA II&#8217; in response to FTX collapse &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_ECB_president_reiterates_calls_for_%E2%80%98MiCA_II_in_response_to_FTX_collapse_%E2%80%9C\"><\/span>&#8221; ECB president reiterates calls for &#8216;MiCA II&#8217; in response to FTX collapse &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMjdmY2FiNGMtYzFjYi00OTQ1LTk4MjQtZWMxZWY4OGQ1MDgwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>Christine Lagarde, president of the European Central Bank, or ECB, has once again called regulation and supervision of crypto an \u201cabsolute necessity\u201d for the EU in the wake of the collapse of crypto exchange FTX.<\/p>\n<p>At a Nov. 28 hearing of the Committee on Economic and Monetary Affairs of the European Parliament, Lagarde cited <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>\u2019s Libra as an example of the ECB\u2019s involvement which was \u201chelpful to stop some of the players\u201d from engaging with crypto firms. However, she said the situation with FTX \u2014 involved with crypto assets as opposed to stablecoins \u2014 was more about the \u201cstability and reliability\u201d of the exchange and the ECB needed to step up as a global regulator to address people\u2019s increasing interest in digital assets. <\/p>\n<p>\u201cAt least Europe [on the road to crypto regulation] is ahead of the pack,\u201d said the ECB president. \u201cBut as I said previously, it\u2019s one step in the right direction. This is not it \u2014 there will have to be a MiCA II, which embraces broader what it aims to regulate and to supervise, and that is very much needed.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Introductory statement by President Christine <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Lagarde?ref_src=twsrc%5Etfw\">@Lagarde<\/a> at the hearing of the Committee on Economic and Monetary Affairs of the European Parliament <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GKnkOJHh9p\">https:\/\/t.co\/GKnkOJHh9p<\/a><\/p>\n<p>\u2014 European Central Bank (@ecb) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ecb\/status\/1597238631550562306?ref_src=twsrc%5Etfw\">November 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The Markets in Crypto Assets bill, or MiCA, is awaiting final <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval following legal and linguistic checks by EU lawmakers. The European Parliament economics committee accepted the MiCA framework in October following trialogue negotiations between the EU Council, the European Commission and the European Parliament. Many expect the policy to go into effect starting in 2024. <\/p>\n<p>Lagarde referred to MiCA II \u2014 presumably additional legislation building on the work lawmakers did for the original bill \u2014 in June. At the time, the ECB president said the framework \u201cshould regulate the activities of crypto-asset staking and lending, which are definitely increasing.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>European Central Bank addresses guidance on licensing of digital assets<\/em><\/strong><\/p>\n<p>European Parliament economics committee member Stefan Berger, one of the proponents of the MiCA framework, also cited the downfall of FTX in advocating for crypto regulation on Nov. 9:<\/p>\n<blockquote><p>\u201cThe FTX case makes it clear what dangers a completely unregulated crypto market and crypto exchanges without licenses entail. We still have a large number of crypto asset service providers whose concept is not understandable. MiCA addresses exactly this problem. With a global MiCA, the FTX crash would not have happened.\u201d<\/p><\/blockquote>\n<p>The ECB is currently conducting the two-year investigative phase of its digital euro project, exploring the use of online payments validated by third parties. Some officials within the EU expect to see legislation related to a digital euro in 2023. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ecb-president-reiterates-calls-for-mica-ii-in-response-to-ftx-collapse\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; ECB president reiterates calls for &#8216;MiCA II&#8217; in response to FTX collapse &#8220; Christine Lagarde, president of the European Central Bank, or ECB, has once again called regulation and supervision of crypto an \u201cabsolute necessity\u201d for the EU in the wake of the collapse of crypto exchange FTX. At a Nov. 28 hearing of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMjdmY2FiNGMtYzFjYi00OTQ1LTk4MjQtZWMxZWY4OGQ1MDgwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[89319,75603,128266,72705,70934],"class_list":["post-517564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-christine-lagarde","tag-ecb","tag-mica","tag-european-union","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517564"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517565"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}