Pieper Says: “MiCA Still Europe Leads New Crypto Era”

The crypto space has been widely blamed for a lack of clear governance rules which have made it difficult even for countries to regulate it. However, Europe appears to be on track to become the first region to come up with harmonized crypto regulations after the European Parliament passed the Markets in Crypto Assets Act (MiCA).

According to Philipp Pieper, co-founder of Ethereum-based DeFi lending platform Swarm, “a new era has begun for global cryptocurrencies and Europe, for a change, has just become the leading innovator in the industry.”

Clear guidelines for crypto companies in the European market

While some argue that the MiCA regulations miss out on some important aspects of the crypto space, including decentralized finance (DeFi), cryptocurrency lending or staking, and non-fungible tokens (NFTs), Pieper believes that “the MiCA regulation has created clear and clear guidelines”.

Commenting on the passage of the MiCA regulation, Pieper said:

“The approval of the MiCA regulation has created clear and unambiguous guidelines for cryptocurrency companies across the European market. It will play an important role in putting Europe ahead of the rest of the world as an established blockchain hub. There is no doubt that you expect a lot from the industry and not everything will work out as it used to. But that’s part of the growth story, especially in an industry that will be the next generation of all-asset financial markets. Our industry colleagues in other countries are watching with interest as to how European industry can now continue to build and innovate on the basis of regulatory trust.”

Swarm’s stance on cryptocurrency regulation

As the only regulated BaFin DeFi platform and member of the German Digital Finance Forum, Swam has been at the forefront of recognizing the inevitability of regulations.

The BaFin regulation benefits Swarm with MiCA now a certainty.

Swarm believes the implementation of MiCA is a positive step for EU-based companies as it provides a clear framework to operate. to bad practices.

A.D

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