BCGAME - Free 5BTC Daily Bonus!In a significant development, blockchain Cardano (ADA), well-known in the industry for its innovation, recently announced a new project aimed at creating a model whitepaper for the European Union’s Markets in Cryptocurrency (MiCA) regulation.
According to its official statement, the Cardano Foundation highlighted that the whitepaper model is released under the Creative Commons Attribution 4.0 International license.
“We are pleased to announce that, in cooperation with LAWSIDE and STADLER VÖLKEL, the Cardano Foundation has developed a model whitepaper for the European Union’s Markets in Crypto-Assets (MiCA) regulation,” he wrote.
In your anúncio Officially, the Cardano Foundation explained that the model was created to help projects on the Cardano network navigate the complexities of MiCA regulation and support compliance with its disclosure requirements.
“This initiative further complements the publication of Cardano Network Sustainability Indicators earlier this year, which are part of the MiCA whitepaper’s disclosure requirements. Together, these actions build on the Foundation’s efforts to enable regulatory compliance and demonstrate its commitment to supporting the Cardano ecosystem.”
As highlighted by the Cardano Foundation, the MiCA regulation establishes certain rules for the issuance, public offering and listing of crypto assets in the European Union. Crypto projects based in the European Union or targeting the European market must comply with the requirements imposed by the legislation.
“Specifically, MiCA requires the publication of a whitepaper that provides comprehensive disclosure of key information, including the purpose of the crypto-asset, underlying technology, associated risks, functionality, and details of the issuer. The whitepaper must also be registered with a competent national authority. These requirements aim to ensure transparency and protect those who acquire a specific crypto-asset.”
The provided whitepaper template is intended for Cardano-based tokens, which are not considered stablecoins under MiCA (“cryptoassets other than asset-referenced tokens or e-money tokens”; generally “utility tokens”).
