C\u00e1c nh\u00e0 qu\u1ea3n l\u00fd \u1edf \u00c1o, Ph\u00e1p v\u00e0 \u00dd \u0111ang c\u00f3 l\u1eadp tr\u01b0\u1eddng m\u1ea1nh m\u1ebd v\u1ec1 vi\u1ec7c \u00e1p d\u1ee5ng c\u00e1c quy \u0111\u1ecbnh m\u1edbi c\u1ee7a EU v\u1ec1 MiCA (Th\u1ecb Tr\u01b0\u1eddng T\u00e0i S\u1ea3n Ti\u1ec1n \u0110i\u1ec7n T\u1eed), c\u1ea3nh b\u00e1o r\u1eb1ng h\u1ecd c\u00f3 th\u1ec3 s\u1ebd h\u00e0nh \u0111\u1ed9ng \u0111\u1ec3 ch\u1eb7n m\u1ed9t s\u1ed1 c\u00f4ng ty ti\u1ec1n \u0111i\u1ec7n t\u1eed ho\u1ea1t \u0111\u1ed9ng xuy\u00ean bi\u00ean gi\u1edbi trong EU. Nh\u1eefng lo ng\u1ea1i c\u1ee7a h\u1ecd t\u1eadp trung v\u00e0o s\u1ef1 kh\u00f4ng nh\u1ea5t qu\u00e1n trong vi\u1ec7c th\u1ef1c hi\u1ec7n MiCA b\u1edfi c\u00e1c qu\u1ed1c gia th\u00e0nh vi\u00ean kh\u00e1c nhau, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn vi\u1ec7c c\u00e1c c\u00f4ng ty ti\u1ec1n \u0111i\u1ec7n t\u1eed t\u00ecm ki\u1ebfm \u0111\u0103ng k\u00fd \u1edf nh\u1eefng qu\u1ed1c gia c\u00f3 s\u1ef1 gi\u00e1m s\u00e1t d\u1ec5 d\u00e3i h\u01a1n, l\u00e0m suy y\u1ebfu an to\u00e0n cho nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00ean to\u00e0n Li\u00ean minh ch\u00e2u \u00c2u.<\/p>\n
MiCA nh\u1eb1m m\u1ee5c \u0111\u00edch \u0111i\u1ec1u h\u00f2a c\u00e1c quy \u0111\u1ecbnh v\u1ec1 ti\u1ec1n \u0111i\u1ec7n t\u1eed tr\u00ean to\u00e0n EU, c\u1ea5p \u201ch\u1ed9 chi\u1ebfu\u201d cho c\u00e1c nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5 ti\u1ec1n \u0111i\u1ec7n t\u1eed (CASPs) \u0111\u01b0\u1ee3c c\u1ea5p ph\u00e9p \u1edf m\u1ed9t qu\u1ed1c gia \u0111\u1ec3 h\u1ecd c\u00f3 th\u1ec3 ho\u1ea1t \u0111\u1ed9ng tr\u00ean to\u00e0n li\u00ean minh. Tuy nhi\u00ean, m\u1ed7i qu\u1ed1c gia c\u00f3 tr\u00e1ch nhi\u1ec7m thi h\u00e0nh nh\u1eefng quy t\u1eafc n\u00e0y, v\u00e0 c\u00e1ch ti\u1ebfp c\u1eadn ph\u00e2n quy\u1ec1n n\u00e0y cho ph\u00e9p c\u00e1c c\u00f4ng ty ch\u1ecdn c\u00e1c khu v\u1ef1c ph\u00e1p l\u00fd c\u00f3 th\u1ec3 d\u1ec5 ti\u1ebfp nh\u1eadn h\u01a1n, c\u00f3 kh\u1ea3 n\u0103ng t\u1ea1o ra nh\u1eefng \u0111i\u1ec3m y\u1ebfu trong th\u1ecb tr\u01b0\u1eddng r\u1ed9ng l\u1edbn h\u01a1n.<\/p>\n
\u0110\u1ec3 gi\u1ea3i quy\u1ebft nh\u1eefng v\u1ea5n \u0111\u1ec1 n\u00e0y, c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd t\u1eeb CONSOB c\u1ee7a \u00dd, AMF c\u1ee7a Ph\u00e1p v\u00e0 FMA c\u1ee7a \u00c1o \u0111\u00e3 k\u00eau g\u1ecdi \u1ee6y ban Ch\u1ee9ng kho\u00e1n v\u00e0 Th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c2u (ESMA) gi\u00e1m s\u00e1t tr\u1ef1c ti\u1ebfp c\u00e1c nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5 t\u00e0i s\u1ea3n ti\u1ec1n \u0111i\u1ec7n t\u1eed l\u1edbn nh\u1ea5t. H\u1ecd ch\u1ec9 ra r\u1eb1ng trong khi C\u01a1 quan Ng\u00e2n h\u00e0ng Ch\u00e2u \u00c2u (EBA) \u0111\u00e3 gi\u00e1m s\u00e1t c\u00e1c stablecoin h\u1ec7 th\u1ed1ng, ESMA n\u00ean c\u00f3 quy\u1ec1n t\u01b0\u01a1ng t\u1ef1 \u0111\u1ed1i v\u1edbi c\u00e1c s\u00e0n giao d\u1ecbch v\u00e0 n\u1ec1n t\u1ea3ng ti\u1ec1n \u0111i\u1ec7n t\u1eed l\u1edbn chi\u1ebfm \u01b0u th\u1ebf trong kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch \u1edf khu v\u1ef1c n\u00e0y.<\/p>\n
Nh\u1eefng lo ng\u1ea1i n\u00e0y \u0111\u00e3 gia t\u0103ng t\u00ednh c\u1ea5p b\u00e1ch sau m\u1ed9t cu\u1ed9c \u0111\u00e1nh gi\u00e1 ngang h\u00e0ng g\u1ea7n \u0111\u00e2y c\u1ee7a ESMA v\u1ec1 c\u00e1ch Malta x\u1eed l\u00fd gi\u1ea5y ph\u00e9p ti\u1ec1n \u0111i\u1ec7n t\u1eed, n\u1ed5i b\u1eadt nh\u1eefng nghi ng\u1edd v\u1ec1 \u0111\u1ed9 \u0111\u00e1ng tin c\u1eady c\u1ee7a qu\u00e1 tr\u00ecnh \u1ee7y quy\u1ec1n c\u1ee7a n\u00f3. B\u1ea5t ch\u1ea5p s\u1ef1 b\u00e0o ch\u1eefa c\u1ee7a Malta, m\u00f4i tr\u01b0\u1eddng quy \u0111\u1ecbnh c\u1ee7a n\u00f3 \u0111\u00e3 thu h\u00fat m\u1ed9t s\u1ed1 s\u00e0n giao d\u1ecbch ti\u1ec1n \u0111i\u1ec7n t\u1eed l\u1edbn, l\u00e0m t\u0103ng th\u00eam lo ng\u1ea1i c\u1ee7a c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd quy\u1ebft li\u1ec7t.<\/p>\n
Cu\u1ed9c tranh lu\u1eadn ph\u1ea3n \u00e1nh m\u1ed9t cu\u1ed9c \u0111\u1ea5u tranh r\u1ed9ng l\u1edbn h\u01a1n trong EU \u0111\u1ec3 c\u00e2n b\u1eb1ng l\u1ee3i \u00edch c\u1ee7a m\u1ed9t th\u1ecb tr\u01b0\u1eddng ti\u1ec1n \u0111i\u1ec7n t\u1eed th\u1ed1ng nh\u1ea5t v\u1edbi nhu c\u1ea7u b\u1ea3o v\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 duy tr\u00ec c\u00e1c ti\u00eau chu\u1ea9n quy \u0111\u1ecbnh. Khi c\u00e1c k\u1ebd h\u1edf v\u00e0 s\u1ef1 kh\u00e1c bi\u1ec7t trong vi\u1ec7c th\u1ef1c hi\u1ec7n xu\u1ea5t hi\u1ec7n, c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd qu\u1ed1c gia \u0111\u00e3 s\u1eb5n s\u00e0ng s\u1eed d\u1ee5ng quy\u1ec1n h\u1ea1n c\u1ee7a h\u1ecd theo MiCA \u0111\u1ec3 h\u1ea1n ch\u1ebf ho\u1eb7c ch\u1eb7n c\u00e1c c\u00f4ng ty m\u00e0 h\u1ecd xem l\u00e0 m\u1ed9t r\u1ee7i ro, b\u00e1o hi\u1ec7u m\u1ed9t b\u1ee9c tranh c\u00f3 th\u1ec3 ph\u00e2n m\u1ea3nh h\u01a1n cho c\u00e1c ho\u1ea1t \u0111\u1ed9ng ti\u1ec1n \u0111i\u1ec7n t\u1eed xuy\u00ean bi\u00ean gi\u1edbi \u1edf ch\u00e2u \u00c2u.<\/p>\n","protected":false},"excerpt":{"rendered":"
C\u00e1c nh\u00e0 qu\u1ea3n l\u00fd \u1edf \u00c1o, Ph\u00e1p v\u00e0 \u00dd \u0111ang c\u00f3 l\u1eadp tr\u01b0\u1eddng m\u1ea1nh m\u1ebd v\u1ec1 vi\u1ec7c \u00e1p d\u1ee5ng c\u00e1c quy \u0111\u1ecbnh m\u1edbi c\u1ee7a EU v\u1ec1 MiCA (Th […]<\/p>\n","protected":false},"author":1,"featured_media":2961,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-2968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-vi"],"translation":{"provider":"WPGlobus","version":"3.0.0","language":"ja","enabled_languages":["en","de","ja","vi","ms"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"ja":{"title":false,"content":false,"excerpt":false},"vi":{"title":false,"content":false,"excerpt":false},"ms":{"title":false,"content":false,"excerpt":false}}},"rttpg_featured_image_url":{"full":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700.jpg",1700,1100,false],"landscape":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700.jpg",1700,1100,false],"portraits":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700.jpg",1700,1100,false],"thumbnail":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700-150x150.jpg",150,150,true],"medium":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700-300x194.jpg",300,194,true],"large":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700-1024x663.jpg",1024,663,true],"1536x1536":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700-1536x994.jpg",1536,994,true],"2048x2048":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700.jpg",1700,1100,false],"blog-thumb":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700-530x250.jpg",530,250,true],"blog-full":["https:\/\/globalcryptoguru.com\/wp-content\/uploads\/2025\/09\/2025-09-16T160009.6220700-1100x450.jpg",1100,450,true]},"rttpg_author":{"display_name":"tranhuynhmy@proton.me","author_link":"https:\/\/globalcryptoguru.com\/ja\/author\/tranhuynhmyproton-me\/"},"rttpg_comment":0,"rttpg_category":"News-Vi<\/a>","rttpg_excerpt":"C\u00e1c nh\u00e0 qu\u1ea3n l\u00fd \u1edf \u00c1o, Ph\u00e1p v\u00e0 \u00dd \u0111ang c\u00f3 l\u1eadp tr\u01b0\u1eddng m\u1ea1nh…","_links":{"self":[{"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/posts\/2968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/comments?post=2968"}],"version-history":[{"count":1,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/posts\/2968\/revisions"}],"predecessor-version":[{"id":2971,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/posts\/2968\/revisions\/2971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/media\/2961"}],"wp:attachment":[{"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/media?parent=2968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/categories?post=2968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalcryptoguru.com\/ja\/wp-json\/wp\/v2\/tags?post=2968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}