Binance CEO Changpeng Zhao has the view that the Crypto Asset Markets (MiCA) regulation prepared by the European Union can be adopted globally. Speaking at the Binance Blockchain Week held in Paris, Zhao said that the EU's crypto regulations could evolve into a global regulation in reference to other countries.

The Binance boss, who found the MiCA regulations generally beneficial, emphasized that the legislation contains positive articles for crypto companies, and emphasized that operating license approval can be obtained with a single application instead of making many applications. Crypto Asset Markets legislation was created to bring legal regulations to the cryptocurrencies of the European Union, which has 27 members, and to companies operating in this field. The MiCA legislation agreed on earlier this summer is mainly aimed at boosting trust in the crypto industry.

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Binance CEO Changpeng Zhao said that while he found the legislation useful in general, he was worried about some of the issues being discussed. So much so that the legislation contains some restrictions for the fixed cryptocurrency sector. The most notable among these is the restriction of the issuance of dollar-pegged fixed crypto assets within the borders of the European Union. Some commentators are making comments that this clause may lead to the ban on the use of stablecoins in the region.

Sharing Zhao's concern, the European Blockchain and Digital Euro Union filed an application last month to revise this clause, which restricts stablecoins. On the other hand, the exit of MiCA is seen as an important development in terms of guiding crypto regulations globally.

The largest crypto exchange Binance plans to suspend deposits and withdrawals for Ethereum ERC-20-based tokens one hour before the Merge takes place. If there is a chain split and the Ethereum proof-of-work chain continues, Binance wants to meet the technical requirements to allow forked tokens to be credited at a one-to-one rate.