EU Council Approved the Regulatory Framework for Digital Assets.

The Council’s Permanent Representatives Committee chair confirmed that the MiCA framework would go through “should the European Parliament adopt its position at first reading.”Representatives from a committee with the European Council have moved forward with regulating digital assets in the European Union through the Markets in Crypto-Assets, or MiCA, framework, sending the finalized text to parliament for a vote.According to an information note on October 5, the European Council’s Committee of Permanent Representatives approved the MiCA text and forwarded it to the President of the European Parliament’s Committee on Economic and Monetary Affairs.Edita Hrdá, chair of the Committee of Permanent Representatives, has confirmed that the crypto framework proposal will be enacted “if the European Parliament adopts its stance on first reading” in the same wording.The MiCA proposal, first submitted to the European Commission in September 2020, aims to create a uniform regulatory framework for cryptocurrencies among European Union member states.

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