EU leads the way with comprehensive crypto regulations, leaving US behind.
TL;DR Summary
The European Union has given final approval to its Markets in Crypto Assets (MiCA) rules, making it a global leader in regulating the cryptocurrency sector. The rules will cover stablecoins, digital tokens, trading platforms, and digital wallets, but not bitcoin itself. Crypto companies will need approval to operate in the EU and will be held liable if they lose investors' assets. The rules aim to improve transparency, combat money laundering, and maintain financial stability. The rules will start taking effect in phases from July 2024.
- Crypto rules get final approval to make Europe a global leader on regulation The Associated Press
- Landmark crypto rules make exchanges liable for customer losses in EU Ars Technica
- EU states approve world's first comprehensive crypto rules Reuters
- EU states approve world's first comprehensive crypto rules CNBC
- SEC Commissioner Issues Warning, Says US About To Fall Behind Europe and UK in Crypto Industry: Report The Daily Hodl
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