LONDON : The rest of the world should copy European Union rules for cryptoassets to create a robust global approach that protects consumers and financial stability, the EU's financial services chief said on Wednesday.
The crypto sector has been rocked by the failure of crypto exchange FTX and other collapses, sending benchmark bitcoin prices tumbling, though it has begun to recover. MiCA requires crypto firms to be authorised by the EU to serve customers in the bloc, and to comply with safeguards against money laundering and terrorism finance.Crypto firms authorised in one EU state would be allowed to offer their services across all 27. EU cities including Paris are already wooing firms in the sector.
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