EU Parliament approves MiCA legislation, establishing comprehensive rules for crypto-assets

The European Parliament’s approval of the Markets in Crypto-Assets (MiCA) legislation establishes the EU as one of the first jurisdictions to implement comprehensive rules on crypto-assets. The MiCA legislation will create a level playing field for all providers of crypto-asset services, ensuring that consumers are provided with adequate protection and that service providers are held accountable for any misconduct. It will also address systemic risks posed by crypto-assets, enhance the overall stability of the financial system, and introduce a regulatory sandbox for innovative solutions. The MiCA legislation will contribute to the continued growth and innovation of the digital finance sector.