As a slew of countries ramp up efforts to bring more regulatory clarity to the cryptocurrency space, the European Union is coming close to reaching an agreement on landmark crypto-focused laws for all 27 member states, people with knowledge on the matter told Bloomberg on Friday. Moreover, France and the European Parliament are "optimistic about resolving remaining issues holding up the Markets in Crypto-Assets (MiCA) package and reaching a deal this month," the people said, as reported by Bloomberg. First presented in 2020, MiCa provides Europe with a defined legal framework for the crypto market in an effort to increase investor protection and reduce its impact on financial stability. But member states and the parliament aren't seeing eye to eye on some areas of the regulation, including whether to include non-fungible tokens ("NFTs") in MiCa and how to regulate "significant" stablecoins, the people explained to Bloomberg. The focus on stablecoins comes
