should you buy AltSignals now?

Key takeaways

• The EU finance ministers have unanimously approved the MiCA cryptocurrency regulation.

• The regulation could boost crypto adoption and usage in Europe.

• AltSignals could be a big winner as more retail and institutional traders could enter the crypto market. 

The cryptocurrency market has evolved over the last decade, and many feel that there is more development in store. Following the Bull Run of 2021, regulatory agencies globally have been working to roll out favourable regulations that would ensure consumer protection and promote innovation in the industry.

One of the most important crypto regulations, MiCA, has been approved by finance ministers across Europe. This implies that the regulatory framework could soon be adopted across the continent.

Could this latest development lead to the massive adoption of cryptocurrencies, and what does this mean for trading-focused tokens like AltSignals?

EU finance ministers finally approve MiCA

European Union finance ministers vote unanimously to adopt Europe’s Markets in Crypto-Assets regulation.

MiCA sets clear regulatory guidelines and requirements for using digital currencies and related services and activities across the EU. The legislation covers various areas, including cryptocurrencies, digital assets, stablecoins, and utility tokens. 

Once the bill is passed into law, MiCA is expected to take effect before the end of 2023 or in 2024. 

What Does this mean for the cryptocurrency market?

The adoption of MiCA in Europe could serve as an excellent boost for the cryptocurrency industry in Europe and even beyond. 

Market experts believe that clear regulations would make it easier for industry players to know how to provide services and open the market up to more investors.

Jeremy Allaire, CEO of USDC stablecoin issuer Circle, stated earlier this year that he is optimistic that MiCA will create the conditions for a thriving competitive market in the EU.

The cryptocurrency market is worth over $1 trillion at the moment, down by more than 60% from the all-time high of $3 trillion recorded in November 2023.

With the adoption of MiCA, cryptocurrency adoption in Europe could increase over the coming years and, subsequently, the total capitalisation of the market. 

What is AltSignals?

One of the cryptocurrencies that could benefit from this latest development is AltSignals.