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EU states approve world’s first comprehensive crypto rules
- EU ministers have agreed on stronger rules to tackle tax fraud with cryptocurrencies, closing loopholes allowing the avoidance of taxation on income using crypto assets.
- The new rules will force all EU crypto asset providers to report transactions of clients residing in the bloc, and there will be an automatic exchange of tax rulings on the wealthiest individuals to target attempts to hide money from the taxman.
- The Markets in Crypto Assets regulation and the fund transfer rules have also been approved, intended to provide greater oversight of crypto asset trades and make it harder for criminals to use cryptocurrencies for illegal activity.
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Crypto rules get final approval to make Europe a global leader on regulation
LONDON (AP) — The European Union’s sweeping set of beefed-up cryptocurrency rules got final approval from member states Tuesday, giving the 27-nation bloc a global lead in regulating the freewheeling sector. The European Council adopted the package of rules — known as Markets in Crypto Assets, or MiCA — in the final step of the bloc’s legislative process. European Parliament lawmakers endorsed the rules in April, and they’re expected to start t…
Coverage Details
Total News Sources30
Leaning Left9Leaning Right6Center11Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 35%
C 42%
R 23%
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