European Union: European Parliament and Council reach agreement on crypto-assets market regulation including competition measures
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Description
European Parliament and Council reach agreement on crypto-assets market regulation including competition measures
On 30 June 2022, the European Parliament and the Council announced that an agreement on the proposed regulation on Markets in Crypto-assets was reached. The provisional agreement outlines additional obligations for issuers of crypto-assets that have more than two million customers and the value of their assets exceeds EUR 1 million or execute more than 500’000 daily transactions with a value exceeding EUR 100 million. The issues of crypto assets classified as "significant" will have to provide fair remuneration to ensure effective risk management, implement liquidity management strategies and have a minimum of 3% of own capital as reserve assets.
Original sourceScope
Policy Area
Competition
Policy Instrument
Unilateral conduct regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
supranational
Government Branch
legislature
Government Body
parliament
Complete timeline of this policy change
Hide details
2020-09-24
under deliberation
2021-11-19
under deliberation
2022-03-17
under deliberation
2022-06-30
under deliberation
2022-10-05
under deliberation
2023-04-20
under deliberation
2023-05-16
adopted
2023-06-29
in grace period