Europe Approves Bitcoin Law! When Will It Take Effect?

Bitcoin (BTC) and cryptocurrencies It constitutes the main framework of its status in Europe and the regulations that may be encountered in the future. European Crypto Asset Markets (MICA) The regulation was approved by the EU parliament today.

The vote was accepted with 517 affirmative votes against 38 negative votes.

The EU parliament also cryptocurrency Operators’ Fund Transfers regulation based on the know your customers principle to stop money laundering was also approved with 529 votes to 29 negative votes.

landmark for cryptocurrencies MICA It was first proposed by the European Commission in 2020. For MICA to become law, it must be approved by the EU parliament and council.

MICA, which has been approved by the parliament, is expected to be published in the official journal of the EU in June and to enter into force within 12 months, that is, in 2024.

As known MICAIt was finalized in June 2022 and later additions and deletions were made. The final vote on the law, which had been delayed and delayed many times until today, was finally postponed to 19 April.

MICA, which did not experience any more delays, received its final approval today.

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