Harmonized legal standards are a set of consistent rules and regulations adopted across different jurisdictions or entities. These standards reduce discrepancies in legal frameworks, promoting uniformity and ease of operation for businesses and individuals operating internationally. They aim to simplify compliance and facilitate cross-border activities.
Context
The establishment of harmonized legal standards is a critical objective for the global digital asset industry, which operates across numerous national borders. The lack of uniform regulations currently creates complexities for crypto businesses and investors alike. International bodies and national governments are working towards developing common legal principles to support innovation while ensuring market integrity and consumer protection.
The MiCA regime's full application mandates a harmonized, pan-EU licensing framework, compelling CASPs to operationalize new market integrity and consumer protection controls.
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