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CRYPTO RULES GET FINAL APPROVAL TO MAKE EUROPE A GLOBAL LEADER ON REGULATION
Techlife News
|May 20, 2023
The European Union’s sweeping set of beefed-up cryptocurrency rules got final approval from member states, giving the 27-nation bloc a global lead in regulating the freewheeling sector
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The European Council adopted the package of rules — known as Markets in Crypto Assets, or MiCA — in the final step of the bloc’s legislative process. European Parliament lawmakers endorsed the rules in April, and they’re expected to start taking effect in phases starting in July 2024.
The tighter European scrutiny follows a spate of high profile crypto scandals including the collapse of trading firm FTX and the implosion of the TerraUSD stablecoin.
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