The European Parliament has postponed the vote on the regulatory framework for cryptocurrencies to a later date.
European Central Bank (ECB) President Christine Lagarde, who took the floor after the EU Economic and Financial Affairs Council meeting, said that it is critical that the MiCA (Crypto Asset Markets) legislation enter into force as soon as possible.
MiCA legislation has been working for a long time. The legislation was due on February 28, but voting has now been suspended due to criticism.
There has been a lot of speculation that Russia could use cryptocurrency networks to evade stringent financial sanctions imposed by the EU and the US. ECB President Lagarde also spoke about this:
“There are always criminal ways to circumvent a ban. It is therefore critical that MiCA act as quickly as possible so that we have a regulatory framework”
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