After the American crypto lending platform Celsius suspended payouts to its users a few days ago, ECB President Christine Lagarde now calls for consistent action. This part of the crypto market also needs to be monitored more strictly, Lagarde said.
Due to the growing trend of staking (pooling crypto tokens) and the increasing lending of crypto assets, Lagarde argues that the EU should initiate regulation in this regard. In a speech to the European Parliament on June 20, the ECB president, known for her crypto-critical stance, spoke of “MiCA II.”
“MiCA II should regulate activities related to crypto asset-staking and lending, which are definitely on the rise. Innovations in these very under-researched areas pose a risk to consumers, as the lack of regulation often enables fraud, outright misrepresentation of value, and very often speculation and criminal transactions.”
cleversoft will continue to monitor developments around MiCA and “MiCA II” and will keep you informed with any updates. Visit our also our latest blog post “Be compliant from day one” to find out all you need to know about MiCA and what to watch out for.
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