EU officials on Thursday secured an agreement on what is likely to be the first major regulatory framework for the cryptocurrency industry, CNBC reports.
The European Commission, EU lawmakers and member states hammered out a deal in Brussels after hours of negotiations. The move came a day after the three main institutions finalized measures aimed at stamping out money laundering in crypto.
Stefan Berger, the lawmaker who led negotiations on behalf of the European Parliament, said:
Today, we put order in the Wild West of crypto assets and set clear rules for a harmonized market that will provide legal certainty for crypto asset issuers, guarantee equal rights for service providers and ensure high standards for consumers and investors.