EU's MiCA Regulation Set for Full Implementation in December 2024

According to Odaily, the Markets in Crypto-Assets (MiCA) regulation is scheduled for full implementation across the European Union on December 30, 2024. Marina Markezic, co-founder of the European Crypto Initiative (EUCI), has indicated that the regulation may lead to significant confusion during its implementation. This is due to potential differences in interpretation among the EU's 27 member states, which could pose challenges to regulatory consistency. There is considerable uncertainty in determining which projects and assets fall under MiCA's regulatory scope, particularly regarding what can be considered 'fully decentralized.' Additionally, there is ongoing debate within the industry about the definition of NFTs, leading to ambiguity about whether certain tokens will be regulated under MiCA.