The crypto regulation law MiCA will allow EU member states to block ads and websites of unauthorized organizations related to digital assets.
The regulation will be developed by ESMA.
It seems this was now considered following the recent collapse of crypto exchange FTX last month, which was registered in the Bahamas.
According to Jan Ceissens, head of digital finance at the European Commission, once the MiCA law comes into force, the EU authorities will track active cryptocompanies that are not authorized to operate with EU citizens.
He has explained:
“We will have general ESMA guidelines that will specify what reverse attraction is.”