{"id":11928,"date":"2022-06-29T19:19:28","date_gmt":"2022-06-29T19:19:28","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/talks-this-week-may-decide-the-future-of-nfts-in-the-eu\/"},"modified":"2022-06-29T19:19:32","modified_gmt":"2022-06-29T19:19:32","slug":"talks-this-week-may-decide-the-future-of-nfts-in-the-eu","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/talks-this-week-may-decide-the-future-of-nfts-in-the-eu\/","title":{"rendered":"Talks This Week May Decide the Future of NFTs in the EU"},"content":{"rendered":"
\n

European Union (EU) negotiators are meeting this week in an attempt to finalize a broad range of rules related to crypto and NFTs. Specifically, the new regulations are aimed at combatting money laundering and could establish an authorization regime for crypto service providers. <\/p>\n

The documents were prepared by France, CoinDesk<\/em> reports.<\/p>\n

Notably, these rules could force people who create non-fungible tokens (NFTs) to centralize and register with governments. According to the documents, this means that an NFT creator would need to be \u201ca legal person rather than a decentralized entity.\u201d As a result, they would have to register their information with the authorities and comply with other consumer-protection measures set out in the law. <\/p>\n

Currently, it\u2019s unclear how these rules would impact DAOs, and if initiatives like Vitalik Buterin\u2019s planned Soulbound Tokens can still permit creators to function in the space pseudonymously.<\/p>\n

There are some topics left to cover during discussions that may prove to benefit the NFT community as a whole, though. For instance, talks on the Markets in Crypto Assets Regulation (MiCA) continue until June 30. The document ultimately notefs that the new rules would \u201csignificantly broaden the scope of the MiCA regulation\u201d beyond its existing focus on cryptocurrencies and into NFT assets from the world of art, entertainment, and gaming, the document said.<\/p>\n

The MiCA law hopes to provide a framework for crypto-assets such as NFTs to fairly \u2014 and legally \u2014 thrive in markets governed by the European Union. With this law, the EU hopes to grant much-needed legal jurisdiction over NFT creation and trading, which may allow legal entities to formally prosecute anyone caught attempting a rug-pull. Also under the MiCA law are plans to protect consumers, investors, and market integrity with regard to the volatility of the crypto and NFT market.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

European Union (EU) negotiators are meeting this week in an attempt to finalize a broad range of rules related to crypto and NFTs. Specifically, the new regulations are aimed at combatting money laundering and could establish an authorization regime for crypto service providers. The documents were prepared by France, CoinDesk reports. Notably, these rules could […]<\/p>\n","protected":false},"author":1,"featured_media":11929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-11928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft"],"yoast_head":"\nTalks This Week May Decide the Future of NFTs in the EU | NFT & Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/nft\/talks-this-week-may-decide-the-future-of-nfts-in-the-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talks This Week May Decide the Future of NFTs in the EU | NFT & Crypto News\" \/>\n<meta property=\"og:description\" content=\"European Union (EU) negotiators are meeting this week in an attempt to finalize a broad range of rules related to crypto and NFTs. 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