On Thursday, the European Parliament voted overwhelmingly in favor of the first set of rules for the markets for crypto-assets in the EU. 517 lawmakers voted in favor of the first comprehensive set of regulations for crypto-asset markets, while 38 opposed it. Stefan Berger, a member of parliament who contributed to the measures’ passage, argued that “this regulation delivers a competitive advantage for the EU.”
The European Union (EU) has recently taken steps toward providing regulatory clarity for the crypto-asset industry. However, the EU adopted a new set of rules for crypto-assets, known as the Markets in Crypto-Assets (MiCA) regulation. MiCA aims to create a harmonized legal framework for crypto-assets across the EU, which will provide greater legal certainty and protection for investors.
In addition, the EU has also proposed new rules for crypto-mining, which will require major service providers to disclose their energy consumption. This is part of the EU’s broader efforts to combat climate change and promote sustainable development.
US regulatory bodies for cryptocurrencies
While the US has yet to provide a comprehensive regulatory framework for crypto-assets, several regulatory agencies have taken steps to regulate certain aspects of the industry. For example, the US Securities and Exchange Commission (SEC) has issued guidance on the application of federal securities laws to digital assets.
Furthermore, the Commodity Futures Trading Commission (CFTC) has taken action against fraudulent crypto schemes. However, the regulatory landscape in the US remains fragmented and complex, and there is an ongoing debate about how to best regulate the crypto-asset industry
