The EU hopes the cryptoasset regulations will whip an industry into shape that has been beset by scandals and failures.
STRASBOURG, France: The European Parliament approved the world’s first comprehensive rules to regulate the “Wild West” world of cryptocurrencies on Thursday, hoping to protect investors against abuse and manipulation.
EU member states have already backed the legislation covering cryptoassets, which include cryptocurrencies such as bitcoin and ethereum and other tradable tokens whose value is secured using blockchain technology, such as NFTs.
The rules, now approved by a large majority of European lawmakers, hope to whip into shape an industry that has been beset by scandals and failures.
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