Now rebranded as Terra Classic, LUNC is a shadow of its former self. Prices have fallen by almost 100% from highs of $119.18 set in April 2022, to $0.0000825.
The paper, "MiCAR's Influence on Stablecoins: Industry Insights and Implications," highlights inconsistencies and areas for improvement in the new law.
While the EU's upcoming Markets in Crypto Assets Regulation (MiCA) will primarily address stablecoins, additional EU-level proposals to further legislate the NFT market and DeFi products may soon be in the works.
The European Union's upcoming MiCA Regulation is set to impose strict requirements on stablecoins, and issuers will be required to meet a range of criteria to ensure compliance. MiCA has two categories for stablecoins, so close in their definitions, that distinctions are difficult to spot.
France has taken a keen interest in cryptocurrencies and blockchain. The country has implemented a series of regulations that aim to provide transparency and security to crypto users and investors, while also supporting the adoption of blockchain technology.
