### The European Banking Authority (EBA) has announced its intention to hire crypto-skilled professionals to prepare for its responsibilities under the proposed Markets in Crypto Assets (MiCA) regulation. The new hires will help ensure that the EBA is fully equipped to oversee stablecoins, which are set to come under its monitoring in accordance with the legislation.

MiCA is a proposed regulatory framework by the European Commission aimed at creating a harmonized set of rules for issuers of crypto assets, service providers, and trading platforms across all EU member states. The ultimate goal of MiCA is to regulate cryptocurrencies and other crypto assets in the European Union.

The EBA's decision to hire crypto professionals is a clear indication that the authority is taking the proposed legislation seriously. The MiCA proposal is currently being reviewed and debated by the European Parliament and the Council of the European Union. If adopted, it is expected to come into force in 2024.

The EBA is responsible for ensuring that EU banks and financial institutions comply with the relevant laws and regulations. As such, it has a critical role to play in the successful implementation of the proposal.

The EBA's decision is not surprising given the increasing popularity of cryptocurrencies and other crypto assets. With the potential for significant financial gains, it is no surprise that many businesses and individuals are keen to invest in these assets. 

However, without proper regulation, there is a risk that they could be used for illegal activities such as money laundering and terrorism financing. The MiCA proposal aims to address this issue by creating a clear set of rules that will govern the use of cryptocurrencies and other crypto assets in the European Union.

The success of the proposal will depend on the EBA's ability to enforce  regulations effectively. By hiring professionals well versed around crypto in general, the EBA is taking a proactive approach to ensure that it is fully prepared for its responsibilities under MiCA.

The European Banking Authority (EBA) has announced its intention to hire crypto-skilled professionals to prepare for its responsibilities under the proposed Markets in Crypto Assets (MiCA) regulation. The new hires will help ensure that the EBA is fully equipped to oversee stablecoins, which are set to come under its monitoring in accordance with the legislation.

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