EU prepares final meeting on cryptocurrency: promises important news

On June 30, the European Parliament, European Commission and Council will hold their final meeting on the MiCA draft law on the regulation of cryptocurrencies. At this meeting, they are expected to finalize two key provisions.

Cryptocurrency advisor Patrick Hansen is already announcing “huge implications for the crypto market in the EU.” After all, the commission will finally decide on two issues – how to regulate crypto-asset markets and payment rules.

Recall that the regulation of digital currency is to be determined by MiCA. This is a comprehensive bill that will apply to all Eurozone countries.

What about NFT?

At the meeting, the parties will decide whether to include NFT in the scope of MiCA regulation. The initiative was originally supported by the Commission, but was opposed by the Council and the Eurozone Parliament. The three bodies now seem to have reached a compromise.

Under the plans, companies that issue NFTs would not have to pay tax. But the marketplaces and other third-party services that sell art tokens will have to transfer a percentage of their income.

Stablecoins

Stablecoins will be another hot topic at the meeting. The commission will decide what requirements to impose on issuers, and what taxes to impose on such transactions.

The outcome of the meeting may noticeably affect investor sentiment (and consequently, the cryptocurrency rate). Therefore, we will closely follow the events.