EU intends to conclude agreement on the law on cryptocurrencies by the end of June

Disagreements between the European Parliament and member states concern the inclusion of NFTs in the new set of rules, the regulation of stablecoins, and the supervision of service providers

11.06.2022 - 10:30

2 min

What’s new? The European Union is close to an agreement on key legislation to regulate the cryptocurrency sector, which will set common rules for its 27 member states. Currently, the European Parliament and member states are discussing whether NFTs should be included in the new set of rules, regulation of stablecoins, and supervision of the largest crypto-asset service providers. This is what Bloomberg reports, citing sources.

Information on the Bloomberg website

What did the outlet’s interlocutors reveal? According to the sources, France, which currently holds the EU presidency, and the European Parliament are optimistic about resolving the remaining issues preventing the adoption of the Markets in Crypto-Assets (MiCA) package. The next meetings of the negotiators are expected to take place on June 14 and 30.

According to sources, the parliament is pushing for the legislation to take into account the environmental impact of cryptocurrency mining. Discussions are also underway to include anti-money laundering (AML) provisions in the MiCA package. National governments believe there should be a separate set of rules for this.

On March 31, EU lawmakers voted to adopt new rules for regulating cryptocurrencies aimed at combating money laundering. Users must necessarily identify themselves in order to make transactions over €1 000

Earlier, the Committee on Economic and Monetary Affairs of the European Parliament (ECON) adopted a bill on Markets in Crypto-Assets (MiCA).

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