EU congressmen discussed the pros and cons of MiCA

The legislators of the European Union decided that the introduction of the law on the comprehensive regulation of cryptocurrency markets (MiCA) will end the uncontrollability in this area. This was reported by the Decrypt publication.

What was discussed

The vote on the new bill will be held on April 20. Therefore, the legislators decided to discuss the pros and cons of the document in advance.

So, the representative of Spain made a statement that without regulation, there were huge losses for most novice crypto investors. This helped the attackers and various international criminal groups. He also added that MiCA is an important stage to start controlling the cryptocurrency sector.

The representative of Germany also has a positive attitude to the bill. In his opinion, the EU will become the vanguard of the cryptocurrency economy. This will allow you to regain the trust that was lost due to the collapse of FTX.

The representative of Ireland, in general, also supported the bill. However, only because it will provide transparency and protect users. At the same time, he is against any development of the crypto market, considering it a financial pyramid.

The representative from the Netherlands made a comparison of the crypto market with tulips at all. He gave the example of 1637, when people invested in these flowers and lost money. However, he noted that tulips have become a good income in the Netherlands, perhaps the same thing will happen with cryptocurrency.

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