A market act is a legislative or regulatory measure designed to govern commercial activities within a specific market. In the realm of digital assets, such an act establishes rules for participants, product offerings, and operational conduct to ensure stability, transparency, and consumer protection. These legal frameworks often address aspects like asset classification, licensing requirements for service providers, and mechanisms for preventing market manipulation. Their implementation aims to integrate digital asset markets into broader financial regulatory structures.
Context
The development and implementation of comprehensive market acts for digital assets are a primary focus for governments globally, seeking to bring clarity to a previously unregulated sector. Debates often revolve around balancing innovation with necessary oversight, avoiding stifling technological progress while mitigating systemic risks. The European Union’s Markets in Crypto-Assets (MiCA) regulation serves as a prominent example of such a legislative effort, influencing global policy discussions.
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