EU Implements Comprehensive Crypto Regulations with MiCA Legislation

The European Union has signed its Markets in Crypto Assets (MiCA) regulation into law, which offers crypto exchanges and wallet providers a license to operate across the 27-nation bloc and requires stablecoin issuers to hold appropriate reserves. The law will take effect between 12 and 18 months later. The EU also signed a separate anti-money laundering law that requires crypto providers to verify their customers' identity when they transfer funds. The next stage of EU crypto regulation may cover topics such as staking, non-fungible tokens, and decentralized finance.