Europe's New Crypto Regulations Passed

Europe's New Crypto Regulations Passed

So, the European Union just passed a new set of crypto regulations. Crypto companies will need approval to operate in the EU and be held liable if they lose investors’ assets. Crypto companies also have to reveal how much energy they are using. The new rules cover issuers of utility tokens, asset referenced tokens and so-called ‘stablecoins’. It also covers service providers such as trading venues and the wallets where crypto-assets are held.

The Council started this legislation via MiCA on 24 November 2021. Legislator discussions started on 31 March 2022 and ended in a provisional agreement reached on 30 June 2022. Today’s formal adoption of the regulation is the final step in the legislative process.

https://www.pbs.org/newshour/world/cryptocurrency-rules-get-final-approval-to-make-europe-a-global-leader-on-regulation

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