#EU crypto rules

The European Union (EU) has just passed the world's first comprehensive legislation on market rules covering crypto assets and crypto transactions. As reported by Reuters and Watcher Guru, the rules will require the reporting and identification of all crypto transactions across the 27 EU states and the need for crypto firms who want to trade or issue stablecoins to obtain a license. These are just some of the highlight rules featured in the European Union's Markets in Crypto Assets or MiCA. The new rules will be rolled out from 2024 onwards. The new rules are aimed at protecting European citizens from money laundering and fraudulent acts via crypto. As part of its review, the central bank will examine BPI's compliance with existing rules covering operational resilience, technology risk management, and service reliability. Read more in our articles including "EU passes law requiring reporting of all crypto assets" and "Pasig Mega Market gets Starlink internet for cashless payments".