European Union Enforces Identification Requirements for All Cryptocurrency Transactions(MiCA)

The European Union's Markets in Crypto-Assets Regulation (MiCA) has received final approval from the Council. This landmark law, aimed at harmonizing cryptocurrencies across the EU, had faced delays and was pushed to April before finally securing final approval.

The MiCA proposal is significant in its goal to align cryptocurrency regulations across the 27 EU member states. According to the latest reports, the European Union has given the green light on May 16th, with signatures from finance ministers.