A new bill by the European Union may force NFT issuers to register.
According to CoinDesk, new EU rules may force NFT issuers to centralize and register.
With the newly emerged bill, rules on overseas exchanges could become tougher and energy use related to crypto mining could be more closely monitored.
The document was prepared by France, which is responsible for chairing the negotiations within the EU council. The issue is expected to be discussed at the meeting, which will take place tomorrow.
Governments argue that NFTs should be completely removed from the new law, while the European Parliament wants stricter rules out of concern that they could be used for money laundering transactions.
In the prepared document, it is stated that the NFT issuer must be a legal entity and must be registered with the authorities.
Crypto Mining Still on the Spot
The European Council appears ready to accept the tough position of lawmakers to limit crypto mining’s energy emissions. While the European Parliament no longer supports the proof-of-work ban, it still wants to expose the environmental implications of crypto.
EU official Mairead McGuinness recently stated that a new global crypto agreement should take environmental impacts into account.
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