First EU-Wide Crypto Regulations Clear Final Parliament Vote (1)

European lawmakers on Thursday gave their final blessing to an ambitious law that will give the European Union its first rules to govern the crypto industry.

The approval of the EU’s Markets in Cryptoassets, or MiCA, regulation is the first time that governments have tried to supervise the upstart industry on such a scale and follows the collapse of several big players including the crypto exchange FTX.

European Financial Services Commissioner Mairead McGuinness said on Wednesday that she expects the legislation to come into force in July after it’s formally approved by the bloc’s 27 member states. Specific requirements will ...