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European Parliament Passes MiCA Crypto Framework, Binance CEO Plans Changes to Comply Within 12-18 Months

Cointime Official

April 21 (Cointime) - The European Parliament passed MiCA on April 20, a crypto framework aims to establish a unified regulatory framework for crypto assets across the European Union member states.

Although legal and linguistic checks are still pending for MiCA, and the bill must be published in the EU journal, the policy could potentially take effect as early as 2024, subject to the European Council vote. The approval of the bill has received praise from many crypto industry leaders and policymakers.

Binance CEO Changpeng Zhao tweeted that he plans to make changes to the exchange within the next 12 to 18 months to adhere to the potential new framework.

EU Commissioner for Financial Stability Mairead McGuinness says he "welcome the European Parliament’s vote today to approve comprehensive EU rules on crypto: a world first."

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