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Europe prepared to lead the world in regulating the freewheeling cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fuelling skepticism and sparking calls for tighter scrutiny.
RIYADH: Europe prepares to lead the world in regulating the cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fueling skepticism and sparking calls for tighter scrutiny. The EU took a first step late Wednesday by agreeing on new rules subjecting cryptocurrency transfers to the same money laundering rules as traditional banking transfers. A much
On Wednesday, the EU agreed on new rules that would subject cryptocurrency transfers to the same money-laundering protocols as traditional banking transfers to preserve financial stability. The new measures could later serve as an example for other countries.
The new law, known as Markets in Crypto-Assets (MiCA), is the first attempt at creating a comprehensive regulatory framework for digital assets in the EU.
The new law, known as Markets in Crypto-Assets (MiCA), is the first attempt at creating a comprehensive regulatory framework for digital assets in the EU.