European Parliament voted in favor of MiCA legislation, European Commission released a pilot project to gather DeFi data in real-time.
Growing political tension between Russia and the European Union (EU) has ruptured the country’s access to international services, like Dapper Labs’ platform. In an article published recently, Flow blockchain developer Dapper Labs announced an immediate suspension of Russian accounts following the EU’s new sanctions against Russia. Under the new measure, Russian users are restricted to […]
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Members of the committee passed the crypto framework policy in a vote of 28 in favor and one against, with a final vote expected with the full Parliament soon.
Policymakers with the European Parliament Committee on Economic and Monetary Affairs, or ECON, have approved the Markets in Crypto-Assets framework following a vote from the European Council.
In an Oct. 10 tweet, ECON member Stefan Berger confirmed the committee had accepted the MiCA legislation, a result of trialogue negotiations between the EU Council, the European Commission and the European Parliament. Members of the parliamentary committee passed the crypto framework policy in a vote of 28 in favor and one against, with a final vote expected in a full European Parliament session soon.
— Stefan Berger (@DrStefanBerger) October 10, 2022
The MiCA proposal, first introduced to the European Commission in September 2020, aims to create a consistent regulatory framework for cryptocurrencies among the 27 European Union member states. Following legal and linguistic checks, Parliament approving the latest version of the text, and publication in the official EU journal, the crypto policies could go into effect starting in 2024.
“It is important to ensure that the [European] Union’s financial services legislation is fit for the digital age, and contributes to a future-ready economy that works for the people, including by enabling the use of innovative technologies,” said the MiCA text as of Oct. 5.
Following the MiCA vote, members of the EU Parliament also overwhelmingly approved a provisional deal on the Transfer of Funds Regulation — legislation aimed at having compliance standards for crypto assets in an effort to crack down on money laundering. The two regulatory frameworks, if given final approval, would apply to member states with the EU but potentially serve as an example for global lawmakers on crypto.
The Markets in Crypto-Assets regulation gets a final green light from the European Parliament on Monday after two years in the making.
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The European Commission released a tender for a study on how to monitor the Ethereum network through “embedded supervision” and automate data collection from DeFi in real time.
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NFT company Dapper Labs has issued warnings to users who have “connections” to Russia that funds held in their account-based crypto wallets have been frozen.
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