Binance's Challenge to MiCA Highlights ECB's Role in Crypto Regulation
Legal experts indicate that while the MiCA framework permits the European Central Bank to engage with national regulators, the authority to grant licenses remains with individual member states.
Editorial Staff
1 min read
Updated about 2 hours ago
The ongoing dispute involving Binance and the Markets in Crypto-Assets (MiCA) regulation has sparked discussions about the European Central Bank's (ECB) influence in the licensing process.
According to legal professionals, the MiCA rules do not prevent the ECB from communicating with national regulators during the application phase for crypto licenses.
However, it remains clear that the ultimate decision-making power regarding licensing lies with the member states themselves.