The European Parliament Has Voted for the EU’s Landmark MiCA Regulation and Anti-Money Laundering Transfer of Funds Rules

Lawmakers in the European Union on Thursday voted 517-38 in favor of a new crypto licensing regime, Markets in Crypto-Assets (MiCA), with 18 absentions, making it the first major jurisdiction in the world to introduce a comprehensive crypto law.

The European Parliament also voted 529-29 in favor 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.

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In a tweet, the European Commission’s Mairead McGuinness described the vote as a “world first” for crypto rules.

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“The European crypto-asset industry has regulatory clarity that does not exist in countries like the U.S.,” Berger said. “The sector that was damaged by the FTX collapse can regain trust.”

Source: The European Parliament Has Voted for the EU’s Landmark MiCA Regulation and Anti-Money Laundering Transfer of Funds Rules