The DLT Science Foundation (DSF) is launching the MiCA Crypto Alliance, which is backed by Hedera, Ripple, and the Aptos Foundation.
MiCA or Markets in Crypto Assets regulation is a relatively new law approved by the European Union. It aims to create a regulated space for digital assets that protect consumers while enabling innovation.
The DSF’s stated mission is to promote crypto adoption and regulatory adherence. The group seeks to launch standardised templates for sustainability disclosures to support crypto-asset service providers (CASPs) and aid compliance.
The MiCA Crypto Alliance said that it:
“…encourages blockchain innovators and exchanges to participate in this new initiative aimed at fostering a more standardised and compliant industry that will help reduce these costs, increase transparency and promote uniformity. Members will gain access to shared resources, such as advanced compliance tools, expert advice, and networking opportunities with prominent figures in the industry.”
Dr. Paolo Tasca, Founder and chairman of the DSF, said that MiCA provides regulatory clarity, supporting the adoption of digital assets and decentralized technology.
“The sustainability disclosure requirements contained within the regulation are designed to drive climate accountability from projects operating within this space and encourage the responsible development of these powerful technologies. In enabling the launch of the MiCA Crypto Alliance, we are committed to setting the standards for compliance with the regulation and providing projects with the tools and knowledge they need to thrive in this new landscape.”
The MiCA Crypto Alliance is currently accepting new applicants to join the endeavor. Members of the alliance gain access to resources and support from industry leaders who aim to simplify compliance with the new regulatory standards. MiCA does not apply to digital securities, which is currently a sector that is being reviewed by ESMA.
