According to CoinDesk, Crypto Risk Metrics risk analysts state that the regulation on stablecoins in the Crypto Assets market (MiCA) will come into effect at the end of June. A part of this regulation includes reporting requirements for ESG data. Although regulators have made specific clarifications, several crypto entities in the European Union (EU) may have misunderstood the deadline for disclosing sustainability information under MiCA. More than 80% of crypto asset service providers have not yet realized that they need to report ESG data (environmental, social, and governance-related data) starting January 1, 2025, and any adverse environmental impacts must be fully identified and disclosed.
Major Events
The California "Digital Financial Assets Law" imposes stricter regulations on businesses engaged in Crypto Assets activities, requiring individuals and companies to obtain a license from the Department of Financial Protection and Innovation (DFPI) to conduct digital financial asset business. The law mandates that licensees retain records for 5 years, including at least monthly maintained ledgers listing all assets, liabilities, capital, income, and expenses.
