The bill focuses on the creation of a regulatory framework for the operation and monitoring of cryptocurrencies and other virtual assets, the establishment of a plan for the tax treatment of cryptocurrencies, and the development of a structure for monitoring cryptocurrencies.
Binance, the world’s largest crypto exchange, is set to lose permission to serve European Union clients from next month because its license application is about to be rejected by Greece’s market regulator, two people familiar with the matter told Reuters.
Under new EU rules, called MiCA, crypto firms have until the end of June to obtain a license to allow them to keep servicing clients across the bloc. Binance’s application, made to Greece’s market regulator, is set to be turned down, the people said.
European regulators have been attempting to rein in crypto exchanges, which allow people to trade cryptocurrencies such as bitcoin around the globe.
Under MiCA, crypto companies have to apply for licenses from regulators in individual EU countries, which they can use as a “passport” to operate throughout the 27-nation bloc.
