EU States Approve First-Ever , Global Comprehensive Crypto Rules.<br />The rules were approved at an EU finance minister meeting on May 16, CNBC reports.<br />Crypto regulation has been at the forefront of discussion since the collapse of FTX.<br />Recent events have confirmed the <br />urgent need for imposing rules which will better protect Europeans who have invested in these assets, and prevent the misuse of crypto industry for the purposes of money <br />laundering and financing of terrorism, Elisabeth Svantesson, finance minister for Sweden, via statement.<br />Now, any firm within the 27-country bloc <br />that wants "to issue, trade and safeguard" cryptocurrency must obtain a license, CNBC reports.<br />The new rules have undoubtedly put pressure on Britain, the U.S. and other countries to approve similar regulations, CNBC reports.<br />Britain has suggested a phased approach beginning with stablecoins and branching out to unbacked crypto assets, but the country hasn't established a timetable. .<br />The U.S. has been using existing securities rules and is still deciding if new rules are needed and who would enforce them.<br />Hester Peirce, a U.S. derivatives regulator commissioner, recently said that federal and state authorities remain uncertain about any oversight role they may offer in the crypto sector.<br />We are wandering <br />in the desert a bit, Hester Peirce, a U.S. derivatives <br />regulator commissioner, via statement
