The European Union’s Markets in Cryptoassets (MiCA) regulation will require crypto firms to register in one of the EU’s member states, before allowing them to operate across the bloc.
Stefan Berger, lead MEP for the MiCA regulation, says: “Consumers will be protected against deception and fraud, and the sector that was damaged by the FTX collapse can regain trust.”
The European Banking Authority and the European Securities and Markets Authority will ensure crypto firms are playing by the rules, which include adopting risk management and governance processes.
