Lawmakers in the European Parliament approved new regulations on markets in crypto-assets (MiCA). Digital assets have become ingrained in modern life and therefore need to become more managed. "The EU brings crypto-assets, crypto-assets issuers, and crypto-asset service providers under a regulatory framework. This regulatory framework aims to protect investors, preserve financial stability, while allowing innovation and fostering the attractiveness of the crypto-asset sector," the official statement reads. Setting an EU level legal framework, MiCA is the first regulatory document for the crypto sector. The adopted rules confirm that crypto assets have become an integral part of the global market. In addition, the EU has agreed on rules that should prevent money laundering through crypto assets. "Under the new rules, crypto asset service providers are obliged to collect and make accessible certain information about the sender and beneficiary of the transfers of crypto assets they operate, regardless of the amount of crypto assets being transacted," the European Commission said.