Crypto Rules Get Final Approval in Europe

EUROPE – The European Union’s sweeping set of beefed-up cryptocurrency rules got final approval from member states Tuesday, giving the 27-nation bloc a global lead in regulating the freewheeling sector.

The European Council adopted the package of rules – known as markets in crypto assets, or MICA — in the final step of the bloc’s legislative process. European parliament lawmakers endorsed the rules in April, and they’re expected to start taking effect in phases starting in July 2024.