The EU Parliament has approved what has been described as the "world's most sweeping cryptocurrency rules", also known as the Markets in Crypto Act (MiCA).
The legislation will impose a number of requirements on crypto platforms, token issuers and traders around transparency, disclosure, authorisation, and supervision of transactions, the EU Parliament said, as it stressed its goal of reducing risks for consumers.
The rules will apply to crypto assets, including currencies such as Bitcoin and Ethereum, as well as tradable tokens whose value is secured using blockchain technology, such as NFTs.
The European Parliament also voted 529-29 in favour of a separate law known as the Transfer of Funds regulation, which requires crypto operators to identify their customers in a bid to halt money laundering, with 14 abstentions.
"We’re protecting consumers and safeguarding financial stability and market integrity," said European Commission's Mairead...