{"id":77561,"date":"2023-04-20T14:01:25","date_gmt":"2023-04-20T11:01:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77561"},"modified":"2025-09-11T00:01:01","modified_gmt":"2025-09-10T21:01:01","slug":"eu-approves-regulation-of-the-crypto-industry","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eu-approves-regulation-of-the-crypto-industry\/","title":{"rendered":"EU approves regulation of the crypto industry"},"content":{"rendered":"<p>The European Parliament voted in favour of a bill to regulate the crypto industry <span data-descr=\"Markets in Crypto Assets \u2014 markets in crypto assets\" class=\"old_tooltip\">MiCA<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Historic day for crypto in Europe!<\/p>\n<p>Today <a href=\"https:\/\/twitter.com\/Europarl_EN?ref_src=twsrc%5Etfw\">@Europarl_EN<\/a> gave its final green light to <a href=\"https:\/\/twitter.com\/hashtag\/MiCA?src=hash&#038;ref_src=twsrc%5Etfw\">#MiCA<\/a>. The EU is becoming one of the first jurisdictions in the world to introduce comprehensive rules on crypto-assets, protecting consumers, financial stability &#038; innovation. <a href=\"https:\/\/twitter.com\/hashtag\/DigitalFinanceEU?src=hash&#038;ref_src=twsrc%5Etfw\">#DigitalFinanceEU<\/a> <a href=\"https:\/\/t.co\/cWF1Nv0Fr5\">pic.twitter.com\/cWF1Nv0Fr5<\/a><\/p>\n<p>\u2014 EU Finance ?? (@EU_Finance) <a href=\"https:\/\/twitter.com\/EU_Finance\/status\/1648999508725092352?ref_src=twsrc%5Etfw\">April 20, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In January, lawmakers <a href=\"https:\/\/u1f987.com\/en\/news\/final-vote-on-eu-mica-regulation-postponed-to-april\">pushed back<\/a> the final review of the rules to April.<\/p>\n<p>The delay was caused by technical problems, including difficulties translating the nearly 400-page document into 24 official EU languages.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWith MiCA, market participants will no longer have to navigate 27 sets of different national rules, simplifying the authorisation process for crypto-asset service providers \u2014 or CASPs \u2014 operating in the EU single market,\u00bb noted Chainalysis experts.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">[3\/6] With MiCA, market participants will no longer have to navigate 27 sets of different national rules, simplifying the authorisation process for service providers \u2014 or CASPs \u2014 operating in the EU single market.<\/p>\n<p>\u2014 Chainalysis (@chainalysis) <a href=\"https:\/\/twitter.com\/chainalysis\/status\/1649000387133702151?ref_src=twsrc%5Etfw\">April 20, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, oversight of crypto-service providers will be carried out by local supervisory authorities. Only industry companies with more than 15 million annual active users will come under the umbrella of the European Securities and Markets Authority (ESMA).<\/p>\n<p>The main provisions of the rules, including those relating to stablecoins, will take effect one year after adoption.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThere are now clear rules of the game for crypto exchanges operating in the EU. We are prepared to adjust our business over the next 12-18 months to bring compliance into full alignment,\u00bb commented Binance chief Changpeng Zhao.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">The European Parliament voted for MiCA to be implemented.<\/p>\n<p>This means one of the world\u2019s largest markets is introducing tailored regulations for crypto to protect users and support innovation. <\/p>\n<p>The fine details will matter, but overall we think this is a pragmatic solution to\u2026<\/p>\n<p>\u2014 CZ ? Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1649018863298703361?ref_src=twsrc%5Etfw\">April 20, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier in the run-up to the vote, EU lawmakers <a href=\"https:\/\/u1f987.com\/en\/news\/eu-lawmakers-weigh-the-merits-and-drawbacks-of-mica\">discussed the advantages and disadvantages<\/a> MiCA. One of the document&#8217;s authors said that its approval would place the jurisdiction <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">in the vanguard of the digital-asset economy and restore the trust that was eroded by the <\/a>collapse of FTX<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Parliament voted for a bill to regulate the crypto industry comprehensively, MiCA.<\/p>\n","protected":false},"author":1,"featured_media":77562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,36],"class_list":["post-77561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=77561"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77561\/revisions"}],"predecessor-version":[{"id":77563,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77561\/revisions\/77563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77562"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}