With the unanimous backing of European finance ministers the European Union’s historic cryptocurrency legislation has cleared the last legislative obstacle . At a meeting on Tuesday (16), the EU Economic and Financial Affairs Council (EcoFin) unanimously approved MiCA (Markets in Crypto-Assets).
According to her, “recent events have confirmed the urgent need to impose rules that better protect Europeans who have invested in these digital assets and prevent misuse by the cryptocurrency industry for money laundering and terrorist financing .” Last month in Strasbourg Members of the European Parliament voted in favor of MiCA establishing a unified policy for the cryptocurrency industry throughout the European Union . Once the rule is posted in the EU’s Official Journal this summer it will officially become legislation .
The MiCA Will Be A Legislation This Summer
Meetings of EcoFin include both the finance and economic ministers of all 27 EU member states and the appropriate European commissioners . The meeting was presided over by Sweden’s Minister of Finance Elisabeth Svantesson who stated in a statement that she was pleased with the adoption .According to her, “recent events have confirmed the urgent need to impose rules that better protect Europeans who have invested in these digital assets and prevent misuse by the cryptocurrency industry for money laundering and terrorist financing .” Last month in Strasbourg Members of the European Parliament voted in favor of MiCA establishing a unified policy for the cryptocurrency industry throughout the European Union . Once the rule is posted in the EU’s Official Journal this summer it will officially become legislation .
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