The European Union on Thursday will seek agreement on ground-breaking rules for regulating crypto assets as the rout in bitcoin piles pressure on authorities to rein in the sector.
Globally, crypto assets are largely unregulated, with national operators in the EU only required to show controls for combating money laundering.
Representatives from the European Parliament and EU states meet to thrash out a deal on the markets in crypto assets law, which would come into force around the end of 2023. A deal is likely to focus on including only token-like NFTs in the scope of MiCA, with authorisation and supervision of crypto firms at member state level. The European Commission would assess the energy footprint of crypto assets, the source said.
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