The implementation of the EU's new crypto licensing system and MiCA law covering money transfer rules has been welcomed by Binance, the world's largest crypto infrastructure provider.
The implementation of MiCA, which covers the European Parliament's new crypto licensing system and money transfer rules, was approved unanimously. Binance, the world's leading blockchain ecosystem and crypto money infrastructure provider, welcomed this development in the crypto world, which is expected to be implemented in 2024.
Changpeng Zhao, CEO of Binance, made a statement on the subject on his social media account, “This development means that one of the largest markets in the world has introduced special regulations for crypto to protect users and support innovation. The finer details will be important, but overall we think this is a pragmatic solution to the challenges we face collectively. There are now clear rules of the game for crypto exchanges to operate in the EU. We are ready to make adjustments to our work in the next 12-18 months to be in a fully compliant position.”
Binance Türkiye General Manager Mucahit Dönmez said; “Binance has always been in a position to support the development and regulation of regulations for full compliance, both globally and specifically for countries. With this positive development within the scope of the EU, the current validity of crypto money exchanges has been accepted by states and institutions. I think this development is a very important milestone for the industry.”
