Opinion: EU member states may have different interpretations of MiCA, and "complete decentralization" is still controversial

the Markets in Crypto-Assets (MiCA) regulatory framework will be fully implemented across the EU on December 30, 2024. Marina Markezic, co-founder of the European Crypto Initiative (EUCI), stated that the regulation may cause "considerable confusion" during implementation due to potential differences in interpretation among the EU's 27 member states. This will pose a challenge to regulatory consistency, and there is also significant uncertainty about which projects and assets fall under the MiCA regulatory scope, particularly regarding the issue of what can be considered "fully decentralized". Additionally, there is no consensus in the industry on the definition of NFTs, which also creates ambiguity regarding whether certain tokens are subject to MiCA regulation.