The Markets in Crypto-Assets (MiCA) regulation has been unanimously approved by the Economic and Financial Affairs Council of the European Union. The MiCA bill covers a comprehensive regulatory framework for digital assets and related services, including stablecoins and utility tokens. The legislation aims to regulate issuers of cryptocurrencies, exchanges, and wallet providers by specifying registration and authorization requirements. The EU intends to implement the Travel Rule guidelines alongside MiCA from January 2025, which will address crypto transactions and require customers to be provided with information about the source of the assets and the beneficiary.