EU Parliament passes crypto regulatory framework , MiCA
Brussels , Belgium , EU Parliament
European Union ( EU ) Parliament , Brussels – the scene where EU member states authorised final approval to introduce the Markets in Crypto-Assets ( MiCA ) bill , the world ’ s first comprehensive set of cryptocurrency regulations , on 16 May 2023 .
As the final stage of MiCA ’ s approval process , the vote marked the end of approval for a regulatory framework first proposed in September 2020 . MiCA will come into effect in stages , with initial regulations being implemented from the start of 2024 . Regulations covered in the bill extend to a variety of cryptoassets , from stablecoins to crypto-asset service providers , and utility tokens to exchange service suppliers .
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