BREAKING: EU policymakers have just agreed on landmark legislation MiCA to regulate crypto for the first time across the economic union. jackschickler reports from Brussels
European Union policymakers have struck a deal on landmark legislation to regulate crypto assets and service providers throughout the bloc's 27 member nations.
Stefan Berger, the parliamentarian in charge of seeing MiCA through the EU's complex legislative process,confirmation that policymakers had reached an agreement. The news was also hailed by the European Commission's Mairead McGuiness, as she left the talks which dragged on for nearly seven hours. “We're glad that we're leading on this,” she said, adding that “we do think there needs to be international cooperation because it's important that we don't regulate on our own.”, and there are recent signs that the Biden administration is considering its own stablecoin laws.
“No legislation is ever set in stone, and no legislation in the area of crypto could be,” McGuinness said. “Those who are in this space are thinking of being innovative will now do it in a way that sits within our regulation rather than in the Wild West.”
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