The long-awaited Markets in Crypto Assets (MiCA) regulation it has just climbed through the European Parliament when MPs voted massively in favor of the bill.

What reported by Economic Committee Press, the bill received a 28:1 scale vote, completing the tripartite agreement needed to push the bill into its next phase of implementation.

The European Parliament vote comes after the European Council also voted to approve the bill last week. As it stands, the European Union will now focus more on refining the details of the bill in order to add it to the EU Journal, where the official implementation process will begin.

“It is important to make sure that the [European] The Union’s financial services legislation is fit for the digital age and contributes to a future-ready economy that works for people, including by enabling the use of innovative technologies,” the MiCA text from October 5 said. .

The MiCA bill has been the talk of the cryptocurrency world for a while now, and with Parliament passing, the bill is one step closer to being implemented across the board.

Enhancement of individual regulatory roles

Despite the approval of MiCA, each body of the European Union is carrying out further studies on the industry. Based on this, the European Commission has launched a call to participate in a pilot test in which it seeks to offer a deeper monitoring of the Ethereum protocol and the decentralized finance (DeFi) activities running on it.

According to the European Commission document, the main focus of the body through this test/study is based on the “collection of automated supervisory data directly from the blockchain to test the technological capabilities for the supervision of activity monitoring”. of DeFi in real time”.

The DeFi world is quite advanced and the industry is most expressive on the Ethereum blockchain. In particular, the European Commission’s move will help control the growing industry and ensure comprehensive oversight of the industry.

The call for participation is open and presentations are expected until December 1.

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