BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

EU Parliament Passes Crypto Regulatory Framework MiCA with A Landslide Vote

BlockNews Team by BlockNews Team
October 12, 2022
in CRYPTO, MEDIA, POLITICS
Reading Time: 5 mins read
1
SHARES
16
VIEWS
Share on XShare in TelegramShare on Reddit

Policymakers with the European Parliament Committee on Economic and Monetary Affairs (ECON) have approved crypto regulation for the Markets in Crypto-Assets (MiCA) framework. This happened after trialogue negotiations between the EU Council, the European Commission, and the European Parliament.

The MiCA framework was first introduced to the European Commission in September 2022 to develop a stable regulatory framework for cryptocurrencies among the 27 EU member states. The framework stipulates how the region would monitor the crypto sector.

It is reported that the parliamentary committee members passed the crypto framework policy following a vote by the European Council, resulting in the majority of the house voting in favor. Twenty-eight members voted for it, while only one was against the proposal. The final vote is expected from the entire European Parliament session soon.

“MEPs from @EP_Economics voted to confirm w/ 28/1 provisional deal on markets in crypto assets #MICA @DrStefanBerger ahead of the final plenary vote June 30 deal details.”

Through a Monday, October 10 tweet, ECON member Stefan Berger acknowledged that the committee had accepted the MiCA legislation. The post read:

“Another step further… The ECON Committee adopted the outcome of the trialogue negotiations on #MiCA. Good news.”

Now that Parliament has approved the latest version of the text, the MiCA policies may be implemented starting in 2024. This is verifiable as the document has already passed legal and linguistic checks and is due for publication in the official European Union journal. An excerpt from the MiCA text dated October 5 reads:

“It is important to ensure that the [European] Union’s financial services legislation is fit for the digital age and contributes to a future-ready economy that works for the people, including by enabling innovative technologies.”

Beyond the MiCA vote, the EU council also passed a provisional deal on the Transfer of Funds Regulation. The legislation, which passed by a landslide, is targeted at establishing compliance standards for cryptocurrency assets as a means to cracking down on money laundering.

“It is worth noting that the EU’s crypto regulatory framework is expected to be applied with a legitimate interest of protecting holders of crypto assets and fighting crypto-related crimes such as pump and dump schemes, rug pulls, money laundering, and terrorism funding.”

If the two regulatory frameworks are officially approved, it will affect all members of the European Union but potentially serve as a precedent for global lawmakers within the crypto space.

Provisions of the proposed MiCA laws

Stretching from an October 6 report on the provisions of the proposed MiCA laws, the framework is expected to bring forth the first-ever licensing regime for crypto exchanges and digital wallets applicable across the EU. Among the areas of interest include strict rules on stablecoins as a precaution against cases similar to the collapse of Terra’s algorithmic stablecoin, UST.

Other areas of interest include the fight against crime, wherein a specific clause on the need for thorough know-your-customer (KYC) processes features. It reads:

“Offerers or persons seeking admission to trading algorithmic crypto assets that do not aim at stabilizing the value of the crypto assets by referencing one or several assets should, in any event, comply with Title II of this Regulation.”

With concerns that MiCA regulations would affect the use of U.S. dollar-pegged stablecoins within the EU, the draft laws were pushed forward without much consultation. For the fourth month now, officials and lawmakers have been trying to change the political frameworks passed in June to come up with a clear legislative text.

Crypto Regulations Need Collaboration and Collaboration – IMF

The IMF recently issued a report detailing that one of the main issues in the crypto space is that there is no “harmonized” understanding of what constitutes a “crypto asset.” 

The international financial institution has called for a global crypto regulatory framework that is “comprehensive, consistent, and coordinated.” In the same way, IMF Managing Director Kristalina Georgieva, during her speech earlier in the year at the Atlantic Council in Washington D.C., opined on the future of money, crypto, and CBDCs. In her opinion, central banks have transcended from conceptual discussions on digital currencies to the practical phase, noting:

“The IMF is deeply involved in this issue, providing technical assistance to many members. An important role for the Fund is to promote the exchange of experience and support the interoperability of CBDCs.”

She also reiterated that the history of money is entering a new chapter, with many countries looking to preserve essential aspects of their traditional monetary and financial systems while experimenting with new digital forms of money.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: cryptoCrypto FrameworkCrypto RegulationEUPolitics
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important
CRYPTO

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

September 2, 2025
What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 
CRYPTO

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump
CRYPTO

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase
BITCOIN

Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

September 2, 2025
VeChain Price Prediction: Can VET Hit $0.035 in September 2025?
CRYPTO

VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

September 2, 2025
Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon
CRYPTO

Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon

September 2, 2025
Load More

Related News

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

September 2, 2025
What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

September 2, 2025
VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

September 2, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews