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EU's Landmark MiCA Legislation to Drive Crypto Prices

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A bitcoin in front of a computer screen.

Said Devere Group CEO Nigel Green, “Crypto has now come of age in Europe as it is being brought into the regulatory tent and being held to the same standards as the rest of the financial system.”

Credit: Financial Mirror (Cypress)

The EU Parliament passed the Markets in Crypto Act, or MiCA, on Thursday, which will come into force next year and has been hailed as a "landmark moment" for cryptocurrencies that will "help drive prices" for the likes of Bitcoin.

Stefan Berger, the MEP who led the bill's creation, said in an emailed statement that Europe is now the "first continent with comprehensive regulation for crypto assets."

"In order for new coins to be approved in the EU, it must be ensured in future that their business model will not endanger our currency stability," he said. "The new supervisory structures will also be a bulwark against Lehman Brothers moments like the crypto exchange FTX."

From Financial Mirror (Cypress)
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