Eur\u00f3psky trh s kryptomenami vstupuje do rozhoduj\u00facej f\u00e1zy. Nariadenie o trhoch s kryptoakt\u00edvami (MiCA), ktor\u00e9 vypracovala Eur\u00f3pska \u00fania, prech\u00e1dza z teoretick\u00e9ho r\u00e1mca do konkr\u00e9tnej reality \u2013 a pre tis\u00edce men\u0161\u00edch hr\u00e1\u010dov to m\u00f4\u017ee znamena\u0165 koniec ich podnikania.<\/p>\n\n\n\n
Prechodn\u00e9 obdobie sa kon\u010d\u00ed 1. j\u00fala<\/a>. Po tomto d\u00e1tume u\u017e nebude mo\u017en\u00e9 leg\u00e1lne poskytova\u0165 kryptoservisy v Eur\u00f3pskej \u00fanii bez licencie MiCA. Spolo\u010dnosti, ktor\u00fdm sa ju nepodar\u00ed z\u00edska\u0165, bud\u00fa musie\u0165 ukon\u010di\u0165 svoje slu\u017eby pre eur\u00f3pskych klientov.<\/p>\n\n\n\n MiCA<\/a> poskytla spolo\u010dnostiam 18-mesa\u010dn\u00e9 \u201eprechodn\u00e9 obdobie“, po\u010das ktor\u00e9ho mohli pokra\u010dova\u0165 v prev\u00e1dzke a pripravi\u0165 sa na nov\u00e9 po\u017eiadavky. Tento \u010das v\u0161ak r\u00fdchlo ubieha. V niektor\u00fdch krajin\u00e1ch u\u017e prechodn\u00e9 obdobia skon\u010dili a tlak na poskytovate\u013eov slu\u017eieb kryptoakt\u00edv (takzvan\u00e9 VASPs) narast\u00e1.<\/p>\n\n\n\n Zatia\u013e \u010do v\u00e4\u010d\u0161\u00ed hr\u00e1\u010di zvl\u00e1daj\u00fa proces relat\u00edvne hladko, men\u0161ie spolo\u010dnosti nar\u00e1\u017eaj\u00fa na v\u00fdrazn\u00e9 prek\u00e1\u017eky. N\u00e1klady na z\u00edskanie licencie, posilnenie \u0161trukt\u00far riadenia a priebe\u017en\u00e9 reportovanie v\u00fdrazne zvy\u0161uj\u00fa bari\u00e9ru vstupu na trh.<\/p>\n\n\n\n Pod\u013ea zakladate\u013eov niektor\u00fdch projektov tak MiCA nepriamo vytv\u00e1ra prostredie, v ktorom \u201eu\u017e neost\u00e1va miesto pre mal\u00fdch hr\u00e1\u010dov.“<\/p>\n\n\n\n Konkr\u00e9tne dopady s\u00fa u\u017e vidite\u013en\u00e9. Napr\u00edklad po\u013esk\u00e1 kryptoburza Ari10 z\u00edskala licenciu v Holandsku, no jej zakladate\u013e upozornil<\/a> Cointelegraph, \u017ee z pribli\u017ene dvetis\u00edc registrovan\u00fdch VASPs v Po\u013esku m\u00e1 moment\u00e1lne licenciu len h\u0155stka. Pod\u013ea neho to vytvor\u00ed tlak, ktor\u00fd m\u00f4\u017ee \u201ezlikvidova\u0165“ ve\u013ek\u00fa \u010das\u0165 trhu.<\/p>\n\n\n\n Eur\u00f3pa<\/a> u\u017e podobn\u00fd v\u00fdvoj za\u017eila inde. Pr\u00edsnej\u0161ia regul\u00e1cia v Japonsku po roku 2018 viedla k tomu, \u017ee men\u0161ie firmy postupne mizli alebo boli pohlten\u00e9 v\u00e4\u010d\u0161\u00edmi hr\u00e1\u010dmi. Rovnak\u00fd scen\u00e1r sa teraz rysuje v E\u00da.<\/p>\n\n\n\n V\u00fdsledkom m\u00f4\u017ee by\u0165 konsolid\u00e1cia trhu \u2013 teda menej spolo\u010dnost\u00ed, no v\u00e4\u010d\u0161\u00edch, ktor\u00e9 s\u00fa lep\u0161ie kapitalizovan\u00e9 a lep\u0161ie pripraven\u00e9 na regul\u00e1ciu.<\/p>\n\n\n\n Jedn\u00fdm z najproblematickej\u0161\u00edch aspektov MiCA je jej pr\u00edstup k decentralizovan\u00fdm financi\u00e1m (DeFi). Zatia\u013e \u010do nariadenie po\u010d\u00edt\u00e1 s v\u00fdnimkou pre plne decentralizovan\u00e9 slu\u017eby, jeho defin\u00edcia je nejasn\u00e1.<\/p>\n\n\n\n Projekty, ktor\u00e9 kombinuj\u00fa decentralizovan\u00e9 prvky s ur\u010dit\u00fdm stup\u0148om kontroly (napr\u00edklad spr\u00e1vu rozhrania alebo aktualiz\u00e1cie syst\u00e9mu), sa m\u00f4\u017eu ocitn\u00fa\u0165 v regula\u010dnej \u201e\u0161edej z\u00f3ne.“ To vytv\u00e1ra pr\u00e1vnu neistotu, ktor\u00e1 m\u00f4\u017ee br\u00e1ni\u0165 inov\u00e1ci\u00e1m.<\/p>\n\n\n\n Niektor\u00e9 platformy preto h\u013eadaj\u00fa kompromis \u2013 k\u013e\u00fa\u010dov\u00e9 funkcie ponech\u00e1vaj\u00fa na blockchaine, zatia\u013e \u010do pr\u00edstup pre pou\u017e\u00edvate\u013eov zabezpe\u010duj\u00fa regulovan\u00e9 subjekty ako burzy alebo slu\u017eby \u00faschovy.<\/p>\n\n\n\n Eur\u00f3pske regula\u010dn\u00e9 org\u00e1ny vr\u00e1tane Eur\u00f3pskeho org\u00e1nu pre cenn\u00e9 papiere a trhy odmietaj\u00fa<\/a> predstavu, \u017ee by MiCA vytl\u00e1\u010dala mal\u00e9 firmy z trhu. Pod\u013ea nich s\u00fa pravidl\u00e1 primeran\u00e9 rizik\u00e1m a maj\u00fa chr\u00e1ni\u0165 tak investorov, ako aj stabilitu trhu.<\/p>\n\n\n\n Z\u00e1rove\u0148 podporuj\u00fa v\u00e4\u010d\u0161iu centraliz\u00e1ciu doh\u013eadu nad ve\u013ek\u00fdmi kryptoplatformami na \u00farovni E\u00da, \u010do by malo obmedzi\u0165 takzvan\u00fa \u201eregula\u010dn\u00fa arbitr\u00e1\u017e“ medzi jednotliv\u00fdmi krajinami.<\/p>\n\n\n\n Nie v\u0161etky n\u00e1rodn\u00e9 \u00farady v\u0161ak s t\u00fdmto smerom s\u00fahlasia. Napr\u00edklad maltsk\u00fd regul\u00e1tor poukazuje na to, \u017ee znalos\u0165 lok\u00e1lneho trhu zost\u00e1va k\u013e\u00fa\u010dov\u00e1 a \u017ee pr\u00edli\u0161 r\u00fdchla centraliz\u00e1cia m\u00f4\u017ee by\u0165 pred\u010dasn\u00e1.<\/p>\n\n\n\n Zatia\u013e \u010do men\u0161ie firmy vn\u00edmaj\u00fa MiCA ako existen\u010dn\u00fa hrozbu, ve\u013ek\u00ed hr\u00e1\u010di ju interpretuj\u00fa inak. Napr\u00edklad burza CoinJar, ktor\u00e1 u\u017e z\u00edskala licenciu v \u00cdrsku, popisuje regul\u00e1ciu ako \u201epotrebn\u00e9 dozrievanie trhu<\/a>.“<\/p>\n\n\n\n Pod\u013ea jej vedenia MiCA nevytv\u00e1ra nerovn\u00e9 podmienky, ale naopak, pribli\u017euje kryptosektor k tradi\u010dn\u00fdm finan\u010dn\u00fdm \u0161tandardom. Z\u00e1rove\u0148 m\u00f4\u017ee posun\u00fa\u0165 trh od \u0161pekulat\u00edvnych tokenov smerom k projektom s dlhodobou hodnotou.<\/p>\n\n\n\n Z\u00e1sadn\u00e1 ot\u00e1zka znie: posiln\u00ed MiCA d\u00f4veru v eur\u00f3psky kryptotrh, alebo vy\u017eenie inov\u00e1torov inam?<\/p>\n\n\n\n Na jednej strane stoj\u00ed amb\u00edcia vytvori\u0165 bezpe\u010dn\u00e9 a transparentn\u00e9 prostredie pre investorov. Na druhej strane obavy, \u017ee pr\u00edsne pravidl\u00e1 a vysok\u00e9 n\u00e1klady vytla\u010dia startupy a experiment\u00e1lne projekty mimo Eur\u00f3pu.<\/p>\n\n\n\n Jedno je ist\u00e9 \u2013 1. j\u00fal bude pre eur\u00f3pske kryptofirmy zlomov\u00fdm bodom. A to, \u010do pr\u00edde po \u0148om, m\u00f4\u017ee z\u00e1sadne zmeni\u0165 podobu cel\u00e9ho trhu.<\/p>\n\n\n\n Eur\u00f3psky trh s kryptomenami vstupuje do rozhoduj\u00facej f\u00e1zy. Nariadenie o trhoch s kryptoakt\u00edvami (MiCA), ktor\u00e9 vypracovala Eur\u00f3pska \u00fania, prech\u00e1dza z teoretick\u00e9ho r\u00e1mca do konkr\u00e9tnej reality \u2013 a pre tis\u00edce men\u0161\u00edch hr\u00e1\u010dov to m\u00f4\u017ee znamena\u0165 koniec ich podnikania. Prechodn\u00e9 obdobie sa kon\u010d\u00ed 1. j\u00fala. Po tomto d\u00e1tume u\u017e nebude mo\u017en\u00e9 leg\u00e1lne poskytova\u0165 kryptoservisy v Eur\u00f3pskej \u00fanii […]<\/p>\n","protected":false},"author":6,"featured_media":59773,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[168,15],"tags":[18,22,124,16,133,560,561],"class_list":["post-59783","post","type-post","status-publish","format-standard","has-post-thumbnail","category-kryptomeny-sk","category-kryptomeny","tag-bitcoin","tag-krypto","tag-krypto-sk","tag-kryptomeny","tag-nariadenie","tag-regulace-mica","tag-regulacia-mica"],"aioseo_notices":[],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"aioseo_meta":{"seo_title":"MiCA regul\u00e1cia: koniec mal\u00fdch firiem v krypto sektore?","meta_description":"Nariadenie MiCA prin\u00e1\u0161a pr\u00edsne pravidl\u00e1 pre kryptofirmy v E\u00da. Term\u00edn 1. j\u00fala m\u00f4\u017ee znamena\u0165 koniec pre tis\u00edce mal\u00fdch hr\u00e1\u010dov. \u010co to znamen\u00e1 pre eur\u00f3psky trh?","focus_keyword":"MiCA"},"_links":{"self":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts\/59783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/comments?post=59783"}],"version-history":[{"count":1,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts\/59783\/revisions"}],"predecessor-version":[{"id":59790,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/posts\/59783\/revisions\/59790"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/media\/59773"}],"wp:attachment":[{"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/media?parent=59783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/categories?post=59783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-globe.com\/sk\/wp-json\/wp\/v2\/tags?post=59783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Obsah \u010dl\u00e1nku:<\/h2>\n\n\n
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<\/ul><\/li><\/ul><\/div>\n\n\n
Tvrd\u00fd term\u00edn, ktor\u00fd men\u00ed pravidl\u00e1 hry<\/h2>\n\n\n\n
\u010c\u00edtajte tie\u017e: TOP 10 kraj\u00edn s najr\u00fdchlej\u0161\u00edm prijat\u00edm kryptomien<\/a><\/h3>\n\n\n\n
Mal\u00e9 firmy pod tlakom, hroz\u00ed vlna konsolid\u00e1cie<\/h2>\n\n\n\n
DeFi zost\u00e1va v \u0161edej z\u00f3ne<\/h2>\n\n\n\n
Regul\u00e1tori: Pravidl\u00e1 s\u00fa f\u00e9rov\u00e9 a podporuj\u00fa inov\u00e1cie<\/h2>\n\n\n\n
\u010c\u00edtajte tie\u017e: yPredict: Revolu\u010dn\u00e1 platforma pre predikciu kryptomien<\/a><\/h3>\n\n\n\n
Filter alebo brzda inov\u00e1ci\u00e1m?<\/h2>\n\n\n\n
Eur\u00f3pa na kri\u017eovatke<\/h2>\n\n\n\n
Z recenzi\u00ed: crypto4me recenzia<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"