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EU's MiCA Rules Have Had Little Influence on the European Crypto Market, Regulator Says

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Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Although MiCA is set to start taking effect at year-end, it has yet to lead to an increase in crypto-euro transactions, the European Securities and Markets Authority said.

"The announcement of the MiCA regulation has not caused an increase in euro volumes at the current juncture but could constitute a potential growth driver once implemented in 2024, as it is intended to enhance investor protection," the European Securities and Markets Authority

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