EU Designates ESMA as Crypto Regulator of the Region in the Latest MiCA Draft
https://ift.tt/Yl5SJbA
>The new draft also introduces a new classification for a kind of crypto assets called “e-money tokens,” which are stablecoins linked to legal tender currencies. These tokens are of special importance for MiCA because of their usage as payment methods. **The issuers of these tokens must have a banking license or operate as an electronic money entity.** **Traditional assets and NFTs are not within the scope of the law, meaning these would be managed by the regulators of each country as they see fit.**
[https://news.bitcoin.com/eu-designates-esma-as-crypto-regulator-of-the-region-in-latest-mica-draft/](https://news.bitcoin.com/eu-designates-esma-as-crypto-regulator-of-the-region-in-latest-mica-draft/)
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