European Union

Key EU Parliament Committee Approves MiCA Deal to Regulate Crypto

Key EU Parliament Committee Approves MiCA Deal to Regulate CryptoEuropean Parliament’s economic committee has backed the adoption of the comprehensive Markets in Crypto Assets (MiCA) regulation. It has also supported the introduction of rules for tracing cryptocurrency transfers, part of the latest EU anti-money laundering push. European Union’s MiCA Crypto Law Passes Another Hurdle Before Final Adoption The European Parliament Committee on Economic and […]

EU Regulations: Dapper Labs Blocks Russian Access To Its Blockchain

Dapper Labs

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 […]

The post EU Regulations: Dapper Labs Blocks Russian Access To Its Blockchain appeared first on Blockonomi.

European Parliament Committee passes MiCA crypto framework in landslide vote

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.

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.

Related: MiCA and ToFR: The EU moves to regulate the crypto-asset market

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.

Latest EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain Services

New EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain ServicesThe new crypto sanctions imposed by the European Union are likely to spur the development of the country’s digital asset market, according to a Russian lawmaker. Anatoly Aksakov, who chairs the parliamentary Financial Market Committee, believes Russians will manage to bypass the restrictions. Meanwhile, major exchanges have reportedly informed Russian users that trading continues. Russians […]
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