Crypto firms welcomed the passing of the landmark MiCA Crypto Law by the European Parliament, which bring in new rules for the industry
Markets in Crypto Assets (MiCA) passed with 517 votes in favor.
Stefan Berger, the creator of the bill, said that Europe is now the “first continent with comprehensive regulation for crypto assets.”
“The European Parliament’s adoption of MiCA today is a pivotal moment for the crypto industry in the region” said Tom Duff Gordon, Vice President of International Policy at Coinbase. “
The region is recognising the potential and societal promise that emerging technology can provide".
MiCA will not come into effect immediately. Once it has been approved by the European Council, it can be officially made EU law.
What do you think, guys? Will the new law be beneficial for the crypto space?
