Members of the European Parliament gave their final approval to a package of EU-wide regulations for crypto assets. The legislators also backed the introduction of mechanisms allowing the tracing of cryptocurrency transactions which will also apply to private crypto wallets above a certain threshold.
European Lawmakers Endorse Groundbreaking Crypto Assets Legislation
Europe’s new common rules for the crypto space were given the final green light by the European Union’s legislature. The set, known as Markets in Crypto Assets (MiCA), was passed with 517 votes in favor, 38 against, and 18 abstentions, the EU Parliament’s press service announced Thursday.
The legislation, designed to regulate the supervision, consumer protection and environmental safeguards of digital assets, including cryptocurrencies like bitcoin, was informally agreed upon with the Council, EU’s decision-making body, in June 2022.
The law, arguably the world’s first comprehensive crypto regulatory package, wil
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