EU Parliament Approves New Crypto Legislation

It’s been just revealed that some EU Parliament officials approved new crypto legislation. Check out the latest reports about this in the news below.

The European Union has inched closer to adopting a bill that seeks to regulate crypto assets and establish financial safeguards in the region.

According to ECON Committee Press, lawmakers have green-lighted the provisional agreements on the Markets in Crypto Assets Regulation (MiCA).

Just to refresh your memory, the negotiators from the Council of the EU and ECON struck provisional agreements on the MiCA, which include matters involving the transparency, authorization and disclosure of crypto transactions as well as measures against financial crimes.

“The new legal framework will support market integrity and financial stability by regulating public offers of crypto-assets. Finally, the agreed text includes measures against market manipulation and preventing money laundering, terrorist financing and other criminal activities.”

After the approval by the Economic and Monetary Affairs Committee of the proposed crypto legislation, the final vote with the Parliament will follow.

Lead member of the European Parliament Stefan Berger said the following:

“MiCA is a European success. We are the first continent to have a crypto-asset regulation. In the Wild West of the crypto-world, MiCA will be a global standard setter. MiCA will ensure a harmonised market, provide legal certainty for crypto-asset issuers, guarantee a level playing field for service providers and ensure high standards for customer protection.”

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