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MiCA: Europe cracks down on offshore crypto, but leaves derivatives risk open?

Europe is working to control the cryptocurrency market through MiCA (Markets in Crypto-Assets) regulations:
* MiCA is designed to tighten offshore crypto activities in order to strengthen oversight and protect investors.
* However, these regulations fail to address the massive crypto derivatives market.
* According to Patrick Gruhn, CEO of Perpetuals.com, leaving the derivatives market unaddressed could create a serious risk loophole, potentially leading to many issues in the future.

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Source: CoinDesk