2Wk·

Questions about the MiCa regulation on 31.12.2024

I saw a post on Instagram the other day and am quoting the content here. What do you think?


What about $BTC (-0.34%) on a hardware wallet? That can't be controlled, can it?


Quote:

In the EU, the MiCa regulation will come into force on December 31, 2024.

Here are 3 things that will change:


  • Exchanges must verify that you are the owner of the wallet you are sending BTC to when making withdrawals.
  • For deposits on exchanges, you must be able to prove where your BTC came from (when and where purchased).
  • Stablecoin providers require a license and must be covered 1:1 at all times.
3
9 Comments

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I think it's absolutely stupid - except for the part about the stablecoins. The Satoshitest couldn't be more stupid either😅 but we'll have to live with that - or only buy on P2P platforms in future, which I'm not averse to either wäre🤷‍♂️
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Cash out crypto on an unregulated exchange outside the EU? E.g. Binance? But could the tax office then possibly ask where the money comes from? What do you think?
The regulation only affects exchanges that want to trade within the EU. There are countless other exchanges outside the EU. I think practice will show. Personally, I have nothing to hide and have documented all transactions. I only have concerns if for some reason stocks are frozen if proof of ownership fails or is checked
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