EU Crypto Law Progresses with Finance Ministers’ Approval
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EU Finance ministers approved new crypto rules, making the bloc the first major jurisdiction with a licensing regime. New Anti-Money laundering measures were taken for crypto fund transfers. Agreement to laws expected after ambassadors approved MiCA and tax measures. MiCA mandates licenses for crypto firms and suitable reserves for stablecoin issuers, due to administrative delays they have agreed to in June. Provisions take effect in a year after publication in the official journal, potentially in June or July. Finance ministers approved measures for sharing crypto data on Tuesday.
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