- In October 2022, the European Parliament approved the comprehensive Markets in Crypto-Assets legislation.
- Originally, the final vote on this bill was scheduled for February 2023. However, it has been moved to April.
- After high-profile collapses of crypto companies such as FTX, the regulators are increasingly focusing on the crypto sector.
Even though a worldwide push for a more harmonized approach is underway, the European Union wants crypto regulation to be in place across its member countries.
The EU is currently finalizing the Markets in Crypto Assets regulation, (MiCA), which will set the stage for a new era in crypto in the region.
The final vote on regulations won’t take place until April of this year at the latest. report The topic suggests.
EU postpones MiCA vote, again
This latest delay – the second for the highly anticipated MiCA rules following the vote’s push from November last year to February 2023 – is down to a snag in the translation of the regulations.
MiCA, a 400-page rulebook that must be translated into all 24 official languages of the EU bloc, is an example. It was necessary that the document be made available in all of the official languages prior to the crucial final vote. This has forced the postponement to April 20,23.
The MiCA bill first appeared in the European Parliament on September 2020. It was then passed by lawmakers in October 2022.
Following a series of major bankruptcies over the past year, regulators and policymakers continue to focus on crypto. Among them is the collapse and disgraced exec Sam Bankman Fried’s multiple crypto companies.