EU reaches provisional deal on landmark crypto rules

The key legislation will regulate the crypto sector with common rules across all 27 member states, including Ireland

Several countries including Ireland, Lithuania, and Hungary had opposed the inclusion of NFTs under MiCA in earlier discussions held on Wednesday.

The European Union reached a provisional agreement on its landmark Markets in Cryptoassets (MiCA) directive late on Thursday, bringing years of debate on how to regulate the digital-asset industry to an informal close.

The key legislation will regulate the crypto sector with common rules across all 27 member states, marking the first time globally that lawmakers have attempted to supervise the sector on such a scale.