The Council of the European Union and the European Parliament have reached a provisional agreement today about the regulation on the so-called MiCA (Markets in Crypto Assets).
The European Union brings crypto assets (including stable coins), crypto asset issuers and crypto asset service providers under a regulatory framework for the first time.
The objective of the MiCA regulation is, among other things, protecting consumers and investors from fraud, prevent money laundering and preserve monetary sovereignty over the Euro.
NFTs are not included, in principle, under MiCA regulation, but in the official communication published tonight on the aforementioned provisional agreement, the Council of the EU explains:”Non-fungible tokens (NFTs), i. e. digital assets representing real objects like art, music and videos, will be excluded from the scope except if they fall under existing crypto-asset categories.
Within 18 months the European Commission will be tasked to prepare a comprehensive assessment and, if deemed necessary, a specific, proportionate and horizontal legislative proposal to create a regime for NFTs and address the emerging risks of such new market.”
Image over the headline.- Hortensia (Hortense) NFT armchair by the digital artist Andrés Reisinger before “polinization”. Photograph taken by Eastwind during Andrés Reisinger conference held at El Sol Advertising Festival 2022.
Related Eastwind Marketing links (Spanish edition):
El Sol, más que apagado en 2022 y no sólo porque no hubo Titanio
(On this post our readers can find some information on the NFT “pollination” process by Andrés Reisinger)
