Cardano Leads with Early MiCA Compliance by Six Months

Cardano Leads with Early MiCA Compliance by Six Months

The Cardano Foundation, in collaboration with the Crypto Carbon Ratings Institute (CCRI), has released a set of sustainability indicators for the Cardano network. These indicators comply with the forthcoming Markets in Crypto-Assets (MiCA) regulation in the European Union. The report, released on July 2, highlights Cardano's energy-efficient consensus protocol, which consumes significantly less electricity compared to proof-of-work protocols. The report provides total annualized electricity consumption and carbon footprint data, aligning with the draft regulatory technical standards from the European Securities and Markets Authority.

This initiative comes six months ahead of the regulatory deadline, demonstrating Cardano's commitment to regulatory compliance and sustainability. MiCA regulations, which emphasize transparency and sustainability in the crypto asset market, will be fully rolled out in December. Frederik Gregaard, CEO of the Cardano Foundation, stated that this effort showcases how blockchain networks can address environmental, social, and governance (ESG) concerns while maintaining transparency and efficiency. The move is seen as a significant step in building trust with regulators, investors, and users, positioning Cardano as a leader in the cryptocurrency industry's shift towards sustainability.

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