Binance: EU's MiCA Act will help shape global stablecoin regulation

Odaily News Binance says global stablecoin regulation will take a key step forward with Europe's upcoming Markets in Crypto-Assets (MiCA) bill. The MiCA bill is the first comprehensive crypto regulatory framework that could advance the legalization of the global crypto industry. A Binance spokesperson said MiCA will be a "key factor" in the development of comprehensive global stablecoin regulation: "By setting clear rules for issuance, reserve management, and redemption, MiCA enhances market stability and consumer protection, while also promoting innovation through legal certainty." It added that MiCA's comprehensive approach will serve as a "global benchmark" for other jurisdictions, which may seek to align their own frameworks with MiCA for more "cross-border compatibility." (Cointelegraph)