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Europe Leads in Regulated Crypto with MiCA-Compliant Stablecoins

by aria-crypto.com

November 18, 2024 at 14:32

Europe Leads in Regulated Crypto with MiCA-Compliant Stablecoins

In a landmark stride for regulated digital finance in Europe, Quantoz Payments, supported by major players such as Tether, Kraken, and Fabric Ventures, plans to launch the MiCA-compliant stablecoins EURQ and USDQ on November 18. These stablecoins, licensed by the Dutch Central Bank as e-money tokens, represent a significant advancement in creating a trustworthy and regulated stablecoin market in Europe. EURQ and USDQ will be available for trading on Kraken and Bitfinex starting November 21, offering European users a cost-effective and efficient transactional method, fully backed by fiat reserves with an additional 2% reserve for enhanced security. The introduction of these tokens is a response to the EU’s Markets in Crypto-Assets (MiCA) regulation, which seeks to ensure stablecoins meet stringent security and operational standards, thereby fostering trust in digital finance. Despite some industry concerns about banking risks associated with reserve requirements, support for MiCA is strong, exemplified by Norway’s interest in aligning its digital finance strategies with the EU’s regulations. Non-compliance with MiCA could lead to the delisting of tokens, highlighting the importance of adhering to these regulations. With these developments, Europe underscores its commitment to blending innovation with regulation, paving a path for a safer digital economy.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

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