EU reaches agreement on final landmark crypto regulation

The European Union has finalized its massive Markets in Crypto Assets regulation.

 Stefan Berger, MiCA's rapporteur in European Parliament,  tweeted the news on June 30. The bill had been in trilogue debates, bringing the European Parliament, Council and Commission together to hash out a final compromise.

As The Block reported yesterday, France had been keen to complete trilogues on MiCA, as the French presidency in the European Council ends at midnight tonight. 

The finalized version is not yet public and Berger's staff had not responded to a request for the bill as of publication time.

Berger noted in his tweet that the final version did not ban Proof-of-Work mining, which members of the Green and Socialist parties had been trying to push earlier in Spring. 

MiCA is the first regulation of its scale in the EU. Its rollout across regulatory agencies will take years. 

About Author

Kollen Post is a senior reporter at The Block, covering all things policy and geopolitics from Washington, DC. That includes legislation and regulation, securities law and money laundering, cyber warfare, corruption, CBDCs, and blockchain’s role in the developing world. He speaks Russian and Arabic. You can send him leads at [email protected]