European lawmakers endorse Markets in Crypto Assets legislation.
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.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 , was passed with 517 votes in favor, 38 against, and 18 abstentions, the EU Parliament’s press service announced Thursday.
MiCA introduces licensing for crypto service providers operating in the bloc and provides for the establishment of a register for non-compliant companies, with the stated goal of countering risks of market manipulation, money laundering, and terrorist financing. It also aims to reduce the carbon footprint of cryptocurrencies, obliging larger service providers to disclose their energy consumption.
Berger pointed out that the crypto industry in the European Union will have regulatory clarity that does not exist in other jurisdictions like the United States. MiCA will enter into force once formally endorsed by the Council and 20 days after its publication in the EU Official Journal.In a separate vote, a majority of 529 members of the Parliament approved additional legislation authorizing the tracing of crypto transactions.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin plunges toward $29,000, Coinbase leads drop in crypto stocks alongside traditional marketsCrypto prices fell across the board on Wednesday in tandem with stocks like Coinbase and MicroStrategy. Bitcoin declined below $30,000.
Read more »
EU Parliament Approves Crypto Licensing, Funds Transfer RulesBREAKING: The European Parliament europarl_EN just voted 517-38 in favor of MiCA, signaling final consent to the landmark crypto licensing law. jackschickler reports.
Read more »
The European Parliament adopts crypto-focused MiCA legislationTwice delayed, the final vote on MiCa in European Parliament has passed today. The first pan-European regulation was adopted by the Parliament.
Read more »
What’s next for EU’s crypto industry as European Parliament passes MiCA?MiCA could make the EU more competitive and open up the unified market to crypto and blockchain businesses.
Read more »
Why the EU Has MiCA and the U.S. Has Securities Law ConfusionThe European Union's crypto rules, which weaken financial privacy for the sake of consumer protection and national security, could set the global standard. Why haven't U.S. authorities been so effective? Opinion for 'The Node' newsletter by danielgkuhn
Read more »
Crypto Markets Brace for Bitcoin (BTC) and Ethereum (ETH) Options ExpiryWith substantial options expiries on the horizon for both Bitcoin and Ethereum, market participants will likely be watching these events closely
Read more »