The European Union, like countries and jurisdictions across the globe, is working to tame the freewheeling crypto sector.
In a letter seen by Reuters sent to 27 EU finance ministers on April 13, crypto businesses asked policymakers to ensure their regulations did not go beyond rules already in place under the global Financial Action Task Force , which set standards for combating money laundering.The rules, opposed by major US exchange Coinbase Global, would require crypto firms to gather and hold information on who is involved in digital currency transfers.
The European Parliament recently approved its draft of the regulation, which will be negotiated with the EU's executive branch and heads of member states.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: