Ripple, Hedera and Aptos team up to form the MiCA Crypto Alliance

The MiCA Crypto Alliance has launched today with major blockchain players Ripple, Hedera, and the Aptos Foundation joining as founding members.

According to the article shared by the DLT Science Foundation, this alliance, supported by the DLT Science Foundation, aims to help crypto companies more effectively navigate new regulations in the European Union, especially Crypto Asset Markets regulation.

Ripple (XRP), Hedera (HBAR), and Aptos Labs (APT) have joined forces to increase transparency and encourage innovation in blockchain technology. The DLT Science Foundation, which is behind the initiative, plans to work closely with businesses and developers to create a harmonious and sustainable future for cryptocurrencies.

MiCA regulation

The MiCA regulation is part of the EU’s wider push to create a secure and innovative digital asset environment. It requires CASPs to publish details on the impact of climate change on their operations.

This regulation demands strict disclosures from service providers, including centralized exchanges, in order to ensure transparency and sustainability.

However, many firms struggle to meet these requirements due to the lack of a standardized process. The MiCA Crypto Alliance aims to address this issue by providing members with access to advanced tools that facilitate compliance.

According to DLT, these tools will assist in the creation of sustainability assessments and white papers, making it easier for companies to meet the required standards.

For those unfamiliar with the technical aspects, MiCA is a set of rules that aim to make the cryptocurrency world more transparent. Just as traditional financial systems follow regulations to ensure fair transactions, Crypto Assets Markets regulation ensures that crypto companies do the same.

By providing tools and resources, the alliance helps companies comply with these new rules without being overwhelmed by the complexity of crypto-specific regulations. The DLT Science Foundation will provide strategic guidance and technical support to MiCA Crypto Alliance members, helping them adapt to the evolving regulatory landscape.