EU Finance Ministers Unanimously Approve MiCA Cryptocurrency Regulations Paving the Way for a Global Standard

The Markets in Crypto Assets (MiCA) regulations were unanimously approved on Tuesday by the finance ministers of the European Union (EU), marking a significant milestone. This approval by the EU’s Council, which represents all 27 member states, positions the bloc to become the first major jurisdiction worldwide to implement a crypto licensing regime. Additionally, new measures aimed at countering money laundering through crypto fund transfers were agreed upon. The consensus on these laws was widely anticipated, having received a positive response from ambassadors who greenlit both MiCA and tax measures the week prior.