Expect both the UK and US approach to have a lot of similarities.
The first regulatory framework in the world for cryptocurrencies has received final approval from the European Union, making the region a pioneer in confronting the collapses, scams and generally skeezy nature of the field. It also marks something of a dividing line for cryptocurrency itself, which as conceived by pioneers like Bitcoin was supposed to exist outside the usual economic structures, as a tool of empowerment for the little guy.
"Recent events have confirmed the urgent need for imposing rules which will better protect Europeans who have invested in these assets, and prevent the misuse of crypto industry for the purposes of money laundering and financing of terrorism," said Swedish finance minister Elisabeth Svantesson. The final version of MiCA has removed some restrictions that were in earlier drafts, notably pulling back from an outright ban on proof-of-work cryptocurrencies
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