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According to The Block, EU lawmakers differ in their view on how the bloc's upcoming crypto regulation would have cushioned the blow from FTX's collapse.The effects of FTX's filing for bankruptcy protection are rippling through the crypto industry. Other firms with exposure to the crypto giant are tumbling over. On Tuesday, crypto lending firm BlockFi prepared to file for bankruptcy protection too. Today, Genesis halted withdrawals. Some EU officials believe the Markets in Crypto Assets regulation — expected to be implemented by 2024 — would strongly protect EU citizens from the FTX ricochet. Others are less certain.“I don't see exactly how MiCA would be able to fully stop or prevent this,” Ondrej Kovarik, center-right member of the European Parliament (MEP) who was a co-legislator on MiCA, told The Block in an interview.

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【EU's MiCA regulation would have had limited impact on FTX debacle, lawmaker says】According to The Block, EU lawmakers differ in their view on how the bloc's upcoming crypto regulation would have cushioned the blow from FTX's collapse.The effects of FTX's filing for bankruptcy protection are rippling through the crypto industry. Other firms with exposure to the crypto giant are tumbling over. On Tuesday, crypto lending firm BlockFi prepared to file for bankruptcy protection too. Today, Genesis halted withdrawals. Some EU officials believe the Markets in Crypto Assets regulation — expected to be implemented by 2024 — would strongly protect EU citizens from the FTX ricochet. Others are less certain.“I don't see exactly how MiCA would be able to fully stop or prevent this,” Ondrej Kovarik, center-right member of the European Parliament (MEP) who was a co-legislator on MiCA, told The Block in an interview.

EU's MiCA regulation would have had limited impact on FTX debacle, lawmaker says

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