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EU Reaches Provisional Deal on Landmark Crypto Rules (1)

June 30, 2022, 9:39 PM

The European Union late Thursday reached a provisional agreement on its landmark Markets in Cryptoassets (MiCA) directive, bringing years of debate on how to regulate the digital-asset industry to an informal close.

The key legislation will regulate the crypto sector with common rules across all 27 member states, marking the first time globally that lawmakers have attempted to supervise the sector on such a scale.

The European Parliament, Council and Commission approved new provisions on the supervision of cryptoasset service providers (CASPs), consumer protection and environmental safeguards for cryptoassets, including cryptocurrencies like Bitcoin and Ether. The European Securities and Markets ...