- The white paper from the Cardano Foundation over MiCA rules focuses on the disclosure of key information about crypto assets, such as purpose, technology, risks, and issuer details.
- Cardano’s native cryptocurrency, ADA, saw an 83% surge over the past week, regaining its position among the top-ten cryptocurrencies.
In their latest collaboration with LAWSIDE and STADLER VÖLKEL, the Cardano Foundation has released a whitepaper template designed to help Cardano-based projects in order to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation.
As we know, Europe’s MiCA sets the rules regarding the issuance, public offering, and listing of crypto assets in the EU. This requires detailed disclosures from crypto projects that target the European market. This new whitepaper will assist the Cardano-based projects in meeting these disclosure requirements, focusing on providing clear information about a crypto asset’s purpose, technology, risks, and issuer details.
Released under a Creative Commons Attribution 4.0 International license, the template is available for free, per the Cardano Foundation blog post. However, the Foundation cautioned that users shouldn’t consider the content as legal advice and must consult qualified advisors to ensure compliance.
This initiative is part of the Foundation’s efforts to support regulatory compliance while building over its earlier release of the Cardano network’s sustainability indicators. Additionally, the foundation also emphasized its commitment to helping the ecosystem navigate regulatory changes while maintaining absolute transparency within the Cardano ecosystem. ‘
The whitepaper template is specifically aimed at utility tokens based on Cardano, and projects must carefully follow the instructions to meet MiCA’s requirements. Future updates and additional resources are in development, and the Foundation encourages the community to subscribe to its newsletter for the latest news and developments.
Big news for the @Cardano ecosystem! 🌱
We’ve partnered with LAWSIDE and @STADLER_VOELKEL to create a MiCA whitepaper template. This makes it easier for projects building on Cardano to comply with the EU regulatory framework. 📃
Read more in our blog:https://t.co/In8NBgXVBa
— Cardano Foundation (@Cardano_CF) November 11, 2024
Cardano Price Delivers Strong Rally in Crypto Market Resurgence
Over the past week, the broader crypto market has witnessed a strong resurgence following the Donald Trump victory last week. One of the top-performing altcoins has been Cardano’s native crypto ADA which witnessed a staggering 83% gain over the last week thereby regaining its spot in the top-ten crypto list while leaving behind the likes of Shiba Inu (SHIB), Tron (TRX), and Toncoin (TON), reported CNF.
This has been the most bullish week for the Cardano price in over two years since March 2022. As a result of this rally, the ADA price is now trading $0.6039 with a market cap of $21.1 billion. Also, in the upcoming altseason, analysts are predicting a 1,700% rally for the Cardano price, per the CNF report.
Despite a prolonged consolidation phase, large holders of Cardano have actively increased their positions since mid-April 2024. Data from Santiment reveals that whale wallets holding between 100 million and 1 billion ADA have boosted their holdings from 2.06 billion to 3 billion ADA, representing a 45% increase.
Historically, such accumulation patterns by large investors have often signaled market bottoms followed by sustained recoveries. This rise in accumulation suggests a growing confidence among major investors in Cardano’s long-term prospects.
