On Tuesday, European Union nations approved the world’s first complete set of laws to regulate cryptoassets, putting pressure on countries such as the United Kingdom and the United nations to come up. A meeting of EU finance ministers in Brussels endorsed guidelines negotiated with the European Parliament, which approved them in April. “Recent events have confirmed the urgent need for imposing rules that will better protect Europeans who have invested in these assets,” said Elisabeth Svantesson, finance minister for Sweden, which now holds the EU presidency. Firms that seek to issue, trade, or safeguard cryptoassets, tokenized assets, or stablecoins in the 27-country bloc must obtain a licence under the laws.