FINTECH: EU adopts new rules on consumer protection for digital assets.

As published on internationalinvestment.net, Wednesday 16 March, 2022.

The European Parliament has agreed draft rules for national regulators to supervise crypto-assets, protect consumers and ensure environmental sustainability in the sector.

Its economic and monetary affairs committee adopted new rules on digital assets, which will cover cryptocurrencies such as bitcoin, by a substantial majority. Lawmakers nodded the rules through by a vote of 31 to four, with 23 abstentions.

The proposed regulation, known as the Markets in Crypto Assets Regulation, or MiCA, will boost confidence in the currencies among investors, and support the development of digital services and alternative payment instruments, the EU's Parliament said.

MALTA: Three IIP applicants ha…