MiCA Regulation
EU regulatory framework for crypto assets — mandatory for exchanges since 2024.
MiCA (Markets in Crypto-Assets) is a comprehensive EU regulatory framework for cryptocurrencies that entered into force in June 2023, with full application from December 2024.
What MiCA regulates:
•Crypto asset issuers — whitepaper obligation and transparency
•Stablecoins — strict reserve rules (Tether would have problems)
•CASP (Crypto Asset Service Providers) — exchanges, brokers, custodians
Obligations for exchanges:
•EU licensing
•Strict AML/KYC procedures
•Client asset segregation
•Transparency of costs and commissions
•Insurance against hacker attacks
Effect on Serbia:
•Serbia is not EU, but Serbian users use EU-licensed exchanges
•Binance EU, OKX EU — must be MiCA compliant
•Serbian projects wanting EU market must follow MiCA
Effect on stablecoins:
•USDT (Tether) has problems with MiCA (Reserve requirements)
•USDC (Circle) and EURe (Monerium) are MiCA-compatible
•Binance temporarily removed USDT for EU users
Long-term: MiCA is positive for crypto — legitimacy, investor protection, institutional adoption.