Whilst Bitcoin (CRYPTO: BTC) remains below $20,000, the EU have finalised the MiCA Proposal – Markets in Crypto-assets (legislative proposal developed to help streamline distributed ledger technology (DLT) and virtual asset regulation in the European Union). These regulations will challenge crypto companies to help prevent money laundering and other illicit activities potentially involving digital assets.
Spanish Green Party lawmaker Ernest Urtasun, who took part in the process, explained:
“The new rules will enable law enforcement officials to be able to link certain transfers to criminal activities and identify the real person behind those transactions.”
A key development has occurred with ‘unhosted wallets’ – wallets held by private individuals that are not managed by a licensed platform. The EU Parliament has always been in favour of forcing CASPs (crypto asset service providers) to identify their “unhosted” counterpart when transacting.
The finalised regulations …
Full story available on Benzinga.com