The CEO of Circle believes that the digital asset market needs new legalized terms that will improve the regulation of the industry.
Jeremy Allaire, on the sidelines of the annual meeting of the World Economic Forum in Davos, said that major markets such as the US and the EU are in dire need of new regulatory definitions for digital assets.
The businessman believes that specific options for the creation and use of digital assets can be regulated separately, but blockchain technology should be considered as a whole, as a single operating system. In his opinion, now the European Union has taken a leading position in the development of legislation on digital assets, especially if the unified MiCA rules come into force by 2024.
“The new regulatory definitions will help bring more clarity to the question of which regulators should be involved in which activities. We are very optimistic that MiCA will create the conditions for a thriving competitive market in the EU,” said Jeremy Aller
The head of Circle assured that his company will continue to work on popularizing and improving the rules for issuing EUROC stablecoin, backed by reserves in euros and fully compliant with all MiCA requirements.
Source: Bits
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