The European Union (EU) has agreed on the full legal wording of the Markets in Crypto Assets Regulation (MiCA), as well as a separate rule to expose the identity of persons making crypto payments. A source familiar on the talks told CoinDesk that diplomats representing the bloc’s member countries in the EU Council signed off on the language of regulations that were the subject of political arrangements negotiated in June at a meeting on Wednesday. MiCA establishes the first-ever licensing scheme for crypto wallets and exchanges to operate across the EU, as well as reserve rules for stablecoins to avoid Terra-style failures.
