EU Crypto Asset Regulation
EU lawmakers have voted 28/1 in favor of the Markets in Crypto Assets Regulation (MiCA), which aims to regulate these digital currencies within union member states. The bill will now be sent to another vote and, if it passes, will bring much stricter rules for cryptocurrency companies and investors.
Requirements would be for those issuing crypto to publish a whitepaper fully documenting their protocol, although this is something most projects do already.
The bill also puts rules on stablecoins pegged to non-EU member currencies, with a restriction on the number of tokens they can issue.
Mining is not safe from the bill either, with miners being required to document and disclose their energy consumption. This will be in a bid to ensure companies are doing their utmost to balance their carbon footprint from the electricity consumption of the mining equipment.
One of the biggest issues could be the classification of NFTs as securities. This will affect countless people who hold decentralized finance- or artwork-based NFTs on blockchains.
There is an answer to this, however.
Uniglo.io
Uniglo is a truly deflationary cryptocurrency that allows exposure to the NFT market without holding the tokens yourself. In addition, the protocol will have a vault that will back the value of the token. The vault will be filled with real-world tokenized assets, including artwork, real estate, and watches, in addition to digital NFT artworks.
Moreover, Uniglo’s signature Ultra Burn Mechanism will remove GLO from circulation non-stop. This will result in an endlessly reducing supply, which means each token will represent an increasing share of the vault. Not only is the whitepaper clear, but it also allows you to hold NFTs by proxy and therefore circumvent the new EU bill, making it a solid choice for investment now.
Conclusion
For those wishing to position themselves ready for the upcoming regulations that the EU is putting on the digital asset market, Uniglo will likely take off as other cryptocurrencies end up being pushed out by the regulatory bodies.
Learn more:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
