European Council adopts Mica regulation

digital-abstract

The European Council adopted the Markets in Crypto Assets (Mica) regulation on May 16, bringing crypto firms under a legal framework in the European Union for the first time. 

“I am very pleased that today we are delivering on our promise to start regulating the crypto assets sector,” said Elisabeth Svantesson, finance minister of Sweden. Recent events have “confirmed the urgent need” to protect Europeans who have invested in these assets, she added. 

Mica defines a crypto asset as “a digital

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