Opinion: EU member states may have different interpretations of MiCA, and "complete decentralization" is still controversial

The Crypto-Asset Market Regulation Act (MiCA) will be fully implemented across the EU on December 30, 2024. Marina Markezic, co-founder of the European Crypto Initiative (EUCI), said that the regulation may cause "considerable confusion" in its implementation. Since the 27 EU member states may have different interpretations of the regulations, this will lead to challenges in regulatory consistency. There is also great uncertainty in determining which projects and assets fall within the scope of MiCA regulation, especially the issue of what can be considered "fully decentralized" is still controversial. In addition, there is no consensus in the industry on the definition of NFT, which also leads to ambiguity in whether some tokens are regulated by MiCA. (cryptonews)