Binance CEO Changpeng Zhao Leads Praise for EU’s New Crypto Regulation, MiCA
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The European Union Parliament has passed into law its MiCA act, and big-time industry player and CEO of Binance Changpeng Zhao is raising support following the new crypto regulations.
EU introduces Markets in Crypto-assets Law, MiCA
The European Union Parliament has passed a bill into law to combat its long-standing battle against the crypto market.
For a long time, the crypto industry has gone without regulations and has been a concern for several regulatory bodies.
In a bid to curb this menace, several regulatory bodies across the EU, the UK, and the US have since continued to clamp down on crypto exchanges and services.
The MiCA regulations should come as a welcome development to many, especially investors, as the law would ensure crypto exchanges are made liable for losses accrued on their platforms.
Crypto industry Bigwig Changpeng Zhao of Binance exchange fame took to Twitter to acknowledge the new crypto regulation.
According to CZ, as he is fondly called, this new bill from the European bloc creates tailored regulations that would better protect investors instead of outrightly witch-hunting facilitators in the burgeoning industry.