The Markets in Crypto-Assets (MiCA) legislation has been ratified by the European Union, it will become effective in the middle of 2024. This law lays down guidelines for the use, trade, and operation of crypto in Europe

THE GOOD 

(Anti Fraud Protection)

   MiCA will control the uncontrolled to address the issue of crypto scam and fraud by regulating centralized crypto platforms across the entire euro zone, and this will protect the intrest of investors. (Security Tokens, and simple NFTs are not covered, but NFT series and collection are included)

THE BAD

(Loss of Privacy)

   MiCA requires ID for all cryptocurrency transactions and requires cryptocurrency service providers to give tax authorities with information on their clients' holdings. It is unclear, though, whether the tax would be paid in euros or in cryptocurrency, but it is only to bring down the core of cryptocurrency.

THE UGLY

(Economic freedom vs slavery)

  Crypto is built in such a way that people must achieve financial freedom, and as long as they HODL the keys (not your keys, not your coins) So people who do not want to lose their privacy and economic independence should be carefree on this side by using their wallet only.