Recent cryptocurrency news includes Binance receiving regulatory approval in El Salvador and France getting closer to implementing MiCA for crypto firms

The Markets in Crypto Assets (MiCA) law of the European Union has changed the registration criteria for cryptocurrency enterprises, according to France’s financial regulator AMF. The new regulations are expected to take effect on January 1, 2024.

According to CoinDesk, EU nations are getting ready to adopt the newly finalized MiCA rule for digital assets and businesses aiming to service the single market, which is scheduled to go into force in the next 12 to 18 months.

France has been wooing businesses to register there even though the nation already has a full licensing structure for crypto enterprises, subject to necessary adjustments to conform with MiCA.

 

For “new players” seeking to provide any regulated services, the “enhanced” registration procedures will be necessary, according to AMF. For businesses that have previously been operating in the nation with permission, the revisions will also “allow a fast track procedure to be implemented towards” authorization.

 

El Salvador grants regulatory approval for Binance

 

leading exchange for cryptocurrencies With permits for Bitcoin and other digital assets, Binance has established itself as the first fully authorized exchange in El Salvador. This accomplishment supports Binance’s attempts to comply with international regulations.

 

According to the cryptocurrency news blog cryoptopotato, the company has had significant growth over the years, expanding to countries including Italy, France, Sweden, Australia, the United Arab Emirates (UAE), Japan, and many more.

 

Binance’s head of Latin America, Min Lin, said: “We are honored to be awarded this license, as Binance continues to work constructively with regulatory bodies throughout the globe to promote global standards for the cryptocurrency and Blockchain sector.

 

SEC to Appeal Ripple Case Decision on XRP Sales

 

The recent court ruling stating that the cryptocurrency XRP may not be categorized as a security will be challenged, according to the US Securities and Exchange Commission (SEC). The appeal seeks to revisit problems pertinent to active cases.

 

According to a court filing from the SEC, “The SEC seeks to certify the court’s holding that the defendants’ ‘programmatic’ offers and sales to XRP buyers over crypto asset trading platforms and Ripple’s ‘other distributions’ in exchange for labor and services did not involve the offer or sale of securities,” according to Decrypt.

 

The SEC said that an appeal review is necessary since the outcome of the review might have an effect on a number of SEC actions.

 

The SEC has sued Ripple’s CEO Brad Garlinghouse for allegedly using the sale of XRP to improperly raise more than $1.3 billion in an unregistered securities offering.

 

The SEC further said that this situation calls for an interlocutory review. An appeal that asks an appellate court to look over judgments made while a case is still pending is known as an interlocutory appeal.