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Regulatory measures are being introduced in Europe to oversee and govern cryptocurrency trading activities



The Markets in Crypto-assets (MiCA) regulation, approved by the European Council, is set to have implications for crypto casinos. This regulation imposes a regulatory obligation on organizations involved in issuing or trading cryptocurrency within the European Union, ensuring they adhere to specified regulations.

Member states within the European Union will be given a three-month period to establish frameworks for the authorization of cryptocurrency businesses. Additionally, they will be required to regularly provide information on the largest cryptocurrency firms to the European Securities and Markets Authority (ESMA).

The regulations also encompass provisions related to anti-money laundering (AML) measures. The European Banking Authority (EBA) will maintain a list of non-compliant crypto businesses, and organizations operating in high-risk countries will be expected to implement enhanced AML checks in alignment with the EU’s framework.

Elisabeth Svantesson, the Swedish finance minister, expressed satisfaction with the introduction of regulations, stating,


“I am very pleased that today we are delivering on our promise to start regulating the crypto-assets sector.”

She emphasized the need for rules that safeguard European investors and prevent the misuse of the crypto industry for illicit activities such as money laundering and terrorism financing.

MiCA was introduced as part of a comprehensive digital finance package in September 2020, alongside a digital finance strategy and the Digital Operational Resilience Act (DORA) that covers crypto businesses.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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