EU legislators voted in favor of a draft bill that seeks to impose new prohibitive measures to curtail banks’ involvement with “unstable” digital assets.
Initially proposed by the European Commission in March 2021, the policy program sets up a monitoring and cooperation mechanism to ensure the EU is progressing toward its key targets.
The effort signifies the European Union’s renewed urgency in ensuring that European law addresses issues posed by digital assets.
The European resolution calls for a "clear and broadly accepted definition of crypto assets and for a coherent definition of what would constitute a taxable event."
The European Union is bracing for another wave of measures in the digital asset sector as Parliament mulls tougher laws for DeFi platforms and Web3 firms to boost its anti-money laundering campaign.
The European Parliament and Council have finalized laws that will regulate a planned pilot project to test the use of blockchain technology for tokenized securities.
Over 10,000 committee and community members tuned in for the Global Tourism Forum in Dubai where panelists discussed the opportunities of blockchain technology in the tourism sector.
The European Parliament’s economic and monetary affairs committee has voted to exclude the provision in the Crypto Assets (MiCA) framework that would have banned proof of work mining.
The European Parliament reached a consensus on a DLT pilot for early 2023 and the ESMA has called for public input to see if it needs to change securities laws.