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EU aims to close landmark cryptocurrency deal this month

The European Union (EU) is approaching agreement on major legislation regulating the cryptocurrency sector. Setting common rules for 27 member states, Bloomberg It was reported on Friday, citing people familiar with the matter. From the report: According to people, France and the European Parliament, which currently chair the EU, are optimistic that they will address the remaining issues holding the crypto asset market (MiCA) package and reach a deal this month. Negotiators are expected to meet on June 14 and June 30. First announced in 2020, MiCA will put European regulators at the forefront of cryptocurrency oversight by creating unified rules across the $17 trillion economy. Addressing issues such as the impact of crypto on investor protection and financial stability has become more urgent after the collapse of the TerraUSD algorithmic stablecoin last month.

Member States and parliaments still disagree on some key aspects of MiCA. According to people, the areas of inconsistency are:
Whether to include non-fungible tokens in the new ruleset
How to regulate important stablecoins
Overseen by the largest crypto asset service providers or CASPs

The two sides are also discussing how to limit the use of stablecoins as a payment method, particularly by introducing limits on transactions that are not denominated in euros, the sources said.

EU aims to close landmark cryptocurrency deal this month

Source link EU aims to close landmark cryptocurrency deal this month

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