• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
    • FinTech Festival Asia, Thailand (September 27-28, 2023)
    • Blockchain Economy Summit, Dubai (October 4-5, 2023)
    • Ibiza NXT (October 4-6, 2023)
    • Money 2020 USA, Las Vegas (October 22-25, 2023)
    • European Blockchain Convention, Barcelona (October 24-26, 2023)
    • Wiki Finance Expo, Sydney (November 16, 2023)
    • Future Tech Event, Oman (November, 2023)
    • Money 2020 Europe, Amsterdam (June 4-6, 2024)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

EU to finalise crypto regulation bill end of June

June 28, 2022 By Crypto Reporter

EU’s MiCA bill is entering a final phase of negotiations

On June 30th the EU Council, Parliament and Commission will have a final meeting on settling the ‘landmark’ MiCA (Markets in Crypto Assets) bill, shared Patrick Hansen, CV advisor at Presight Capital, in his Twitter account.

‘Big issues’ have been approved, only a few points remain open.

The European Commission has it in mind to include NFTs in the MiCA framework, arguing on the premise of protecting consumers. The Council and Parliament opposed it initially but now support the measure.

“The likely outcome is a compromise where NFT issuers are mostly exempted, but companies (marketplaces etc.) providing services on top of third-party NFTs are not. They will need a CASP [Crypto Asset Services Provider] license (small volume players might not),” wrote Hansen.

The lawmakers do not plan to give algorithmic stablecoins a break either. The EMT (e-money tokens) and ART (asset-referenced tokens) issuers will be subject to stringent legislative requirements, whereas CASPs will be prohibited from providing interest on stablecoins.

The EU authorities are still to give an exact definition of “significant” stablecoins and set a supervisory architecture.

The DeFi sector has not been included into MiCA scope during these negotiations. The Commission will publish a separate report in 2023 and launch a pilot project for a new form of “embedded DeFi supervision”.

It is expected that CASPs will be required to reveal information on every crypto asset they work with. The list will be established by the European Securities and Markets Authority (ESMA).

The officials, according to Hansen, also need to set clear rules on money laundering and financing terrorist activities, precise regulatory framework and implementation periods.

“The adopted compromise will then be voted on formally in the plenary of the Parliament before MiCA comes into force,” explained Hansen.

In March the EU Parliament voted in favor of the TFR (Transfer of Funds Regulation) amendments, cracking down on “unhosted” wallets. Yet, there were opposing voices in the EU Council and Commission. In response, some crypto-industry representatives protested ‘alarming’ anti-money laundering laws and called on the European lawmakers and finance ministers to reconsider the combatting measures.

More news:

  • European Union reaches agreement on crypto regulation
    European Union reaches agreement on crypto regulation
    July 11, 2022
  • Tel-Aviv Stock Exchange proposes crypto trading regulation
    Tel-Aviv Stock Exchange proposes crypto trading regulation
    March 3, 2023
  • UAE is set to welcome crypto licensing 
    UAE is set to welcome crypto licensing 
    February 26, 2022
  • IMF: Complete ban of crypto maybe ineffective 
    IMF: Complete ban of crypto maybe ineffective 
    June 30, 2023
  • India to tax crypto and NFTs profits at 30%
    India to tax crypto and NFTs profits at 30%
    February 2, 2022
  • Uber to consider accepting crypto as payments 
    Uber to consider accepting crypto as payments 
    February 20, 2022

Filed Under: General News, News Tagged With: crypto regulation, MiCA, news

Primary Sidebar

Follow Us

Press Releases

Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

September 24, 2023

Telos and Elixir Games Partner to Bring New Titles and Cutting-Edge Technology to Web3 Gaming Ecosystem

September 24, 2023

On-Chain Bonds Platform Obligate Appoints Former Global Head of Exchanges for Swiss Stock Exchange (SIX) Thomas Zeeb to Board of Directors

September 24, 2023

Record Breaking Success Cements TOKEN2049 as the World’s Largest Crypto and Web3 Industry Event

September 24, 2023

Consensys Unveils Pre-Accelerator Program, Consensys Fellowship, To Propel Web3 Founders and Decentralized Applications

September 24, 2023

Blockchain Expo Europe 2023

Fintech Festival Asia 2023

Blockchain Economy Dubai 2023

Money2020 USA

European Blockchain Convention 2023

Blockchain Expo Global 2023

Money2020 Europe

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2023 Crypto Reporter