Participation in the Dialogue Organized by the Corporate Governance Institute
12/10/2022
Permanent Resident for Economic Reasons
17/10/2022On Thursday, September 29, 2022, the European Parliament and the Council of the European Union reached a provisional agreement to create a legal framework and regulations for the supervision, consumer protection measures, and environmental considerations related to the issuance, management, and trading of digital assets and cryptocurrencies, including tokens, under the MiCA (Markets in Crypto-Assets) regulation.
This is the first regulatory framework of its kind at the European macro level. It also introduces measures to combat market manipulation, speculative trading, money laundering, and the financing of terrorism and criminal activities.
Currently, Non-Fungible Tokens (NFTs) are exempt from the application of this law due to their unique nature as collectible assets offered to the public with a fixed value. However, depending on the evolution of this digital asset, there could be a review of its classification in the future as a financial instrument or digital asset subject to MiCA regulations.
The agreement is in the process of being approved by the Economic and Monetary Affairs Committee and the Council of the European Union, followed by a plenary vote, before coming into effect.
For more information, click on the official link from the European Parliament:
