EU Parliament Passes MiCA Crypto Regulations to End 'Wild West' Era.

The European Parliament has approved a new crypto licensing regime, Markets in Crypto-Assets (MiCA), and a separate law known as the Transfer of Funds regulation, which requires crypto operators to identify their customers to prevent money laundering. The EU is the first major jurisdiction to introduce a comprehensive crypto law. The rules will start applying from next year, and the European Securities and Markets Authority will announce its timetable for drafting secondary legislation under MiCA. The EU aims to protect consumers, safeguard financial stability, and market integrity.