The European Union has officially published its Markets in Crypto Assets law (MiCA), which will introduce licensing rules for crypto wallet providers and companies operating across the bloc.

The law also includes new governance and financial requirements for stablecoin issuers. The legislation will come into effect on December 30, 2024, with certain provisions taking effect on June 30, 2024. The U.S. faces uncertainty in the crypto industry, with the Securities and Exchange Commission suing Binance and Coinbase over the tokens traded on their platforms.