The proposed acquisition of the FTX crypto exchange by rival Binance is bringing European regulators and experts forward — and they’re commenting that the bloc’s new digital asset legislation will mitigate such market spirals in the future. EU regulators may be influenced by the unfolding story while drafting the new rules for the MiCA regulation.
The crypto space is not a gambling casino,” Stefan Berger, a social-liberal member of the European Parliament who was a lead negotiator on the Markets in Crypto-Assets legislation expected to pass Parliament early next year. “MiCA is the bulwark against Lehman Brothers moments such as the FTX case,” he added in emailed comment to The Block. put in place internal control mechanisms and provide transparency to clients.