🇪🇺🔗🇪🇺The European Union has begun to tighten regulation for crypto projects. First, uniform standards were approved to determine who can provide services in this area, as well as registration requirements (MICA). Now the European Parliament has begun discussing amendments to tax legislation that will oblige crypto service providers to notify tax authorities about their activities and all transactions.
This means that in the near future we can expect the creation of a centralized body that will oversee service providers and take real action in case of violations. These innovations will primarily affect crypto wallets and assign them the functions of tax agents.
In general, it seems that the legalization of cryptocurrencies in the European Union is at the finish line, but there are still some steps left before its completion. 🇪🇺🔗🇪🇺