EU Parliament Approves Comprehensive Crypto Regulations, Sets Precedent for Global Industry.

The European Parliament has approved two new regulations for governing the digital assets market. The first law seeks to ensure that crypto transfers can always be traced and the suspicious ones blocked, while the second provides rules covering the supervision, consumer protection, and environmental safeguards of crypto assets. The regulations still need to be formally endorsed by the Council of the European Union and published in the EU Official Journal before they can take effect, but are expected to apply by next year.