This post is originally published in Medium
Last week, the eagerly waiting crypto community was rewarded with the news that the bill, which they are expecting to be groundbreaking for crypto in the EU market, came inches closer to becoming a law. The much anticipated — Markets in Crypto Assets (MiCA) — regulation was given a unanimous thumbs-up by the EU’s Council of the finance ministers of the EU (EcoFin).
What is this MiCA? And how does it shape the crypto ecosystem in one of its largest markets, the European Union? Here is a short essay explaining the same.