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ARTICLE · 30 MAY 2023

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The World's First Comprehensive Crypto Laws Have Been Approved By EU Parliament

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The European Union (EU) has introduced the world's first comprehensive regulation for issuing and trading crypto; the Markets in Crypto-Assets (MiCA) Regulation.

European UnionTechnology
Elaine White
Elaine White
Eoghan Davis
Eoghan Davis
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The European Union (EU) has introduced the world's first comprehensive regulation for issuing and trading crypto; the Markets in Crypto-Assets (MiCA) Regulation.

The cryptocurrency industry has experienced significant growth in recent years, with the market capitalisation of cryptocurrencies reaching an all-time high in 2021. However, the lack of clear regulations in the industry has left investors vulnerable to fraud and other risks. To address this issue, the European Union (EU) has introduced the world's first comprehensive regulation for issuing and trading crypto; the Markets in Crypto-Assets (MiCA) Regulation. The MiCA Regulation is expected to come into effect in July 2024. Lawmakers in the EU voted overwhelmingly in favour (517 -38) of the new regime on 20 April last.

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