The MiCA regulation, which came into force with the aim of uniformly regulating the cryptocurrency sector within the European Union, imposes new conditions that particularly concern:
- – The mandatory authorization of crypto service providers
- – The transparency of whitepapers
- – The reserve requirement for stablecoin issuers
- – Surveillance on systemic risks
One of the main impacts is precisely on stablecoins, like USDT, which will have to demonstrate that they have solid, transparent, and accessible reserve assets.
The platforms that wish to maintain the trading of these tokens within the European market will need to ensure that the assets are fully compliant.
The possible trigger: an update from Binance
At 10:30 UTC, Binance announced changes to the leverage and margin requirements for perpetual contracts on several pairs, including ACT/USDT. The announcement specified that the new rules would also apply to existing positions.
According to some analysts, this could have:
- Activate automatic adjustments in arbitrage and market making bots
- Trigger liquidations on cross-margin positions
- Spread rapidly to the spot market as well, creating a domino effect
A pseudonymous user on X, Game, explained:
“The update hit the perpetual, but it also sent the spot into a panic. Those who had connected positions began to close them quickly, amplifying the crash.”
The phenomenon has spread beyond Binance, with similar movements recorded on:
- Other centralized exchanges
- Decentralized platforms (DEX)
In some cases, the tokens were quickly purchased by algorithmic or manual traders who took advantage of the flash crash.
Tokens like KAVA, in fact, were purchased at a discount and recovered value in a few minutes.
The law, unanimously approved in both chambers, establishes important rights for citizens and businesses operating in the bull and bear cryptocurrency sector.
Among the key points:
- Right to self-custody of digital assets
- Possibility to operate blockchain nodes without restrictions
- Free cryptocurrency transaction without fears of discriminatory regulations
- Protection for mining activities from penalizing urban planning regulations
- Clarity on staking regulations, excluding it from the category of financial securities
Furthermore, another bill is under discussion that would allow the State Investment Commission to invest up to 10% of the excess state reserves in Bitcoin and other cryptocurrencies.
“I am excited to join Kraken’s mission at this crucial moment and to lead our expansion efforts. We are committed to serving our customers in the long term with innovative and compliant products.”
In any case, Kraken, unlike its competitors, has chosen to move in the opposite direction, strengthening its commitment through an initiative of proactive compliance.
The decision to obtain an official registration and appoint an expert figure in the sector like Cynthia Del Pozo, signals not only a long-term vision but also a strategy focused on regulatory stability and investor confidence.
This strategic choice could prove to be particularly successful in a context where regulatory clarity represents one of the most relevant assets for attracting both retail and institutional investors.
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