The European Parliament’s economic committee has adopted the MiCA regulation, which the European Commission has proposed for creating a comprehensive legal framework for cryptocurrencies. The proposed framework will help prevent fraud and illegal activities related to cryptocurrencies. It also aims at achieving a single market for these digital assets. This will enable the free movement of virtual assets across the EU’s borders. The bill was approved by 16 votes to two, with two abstentions.
Have you ever heard of a political institution voting on cryptocurrency?
Well, here it is. The European Parliament has passed legislation accepting cryptocurrency. It’s a historical turn that many EU officials and countries have accepted.
The MiCA regulation, a single EU-wide framework of guidelines for exchanges and asset managers of crypto assets, has received a favorable endorsement by the European Parliament’s Economic and Monetary Affairs Committee (ECON).
The vote will bring leaders closer to an agreement on increased regulatory oversight. This comes after months of debate and discussions between various EU institutions.
Cryptocurrencies and blockchain startups are attracting increasing attention from regulators, policymakers, and even financial giants like Goldman Sachs.
The European Parliament’s economic committee has supported adopting a new law regulating cryptocurrency exchanges. The vote, which takes place next week, is part of an effort by the EU to crack down on money laundering.