European Parliament has approved the Markets in Crypto Assets (MiCA) Regulation, marking one of the first major attempts by a world power to create comprehensive regulations for digital assets. The rule creates standards and a path to registration for issuers of crypto assets, including stablecoins and their service providers. The chamber reached a preliminary agreement on the text of the regulation in June 2022, and this week Parliament approved the legislation in a 517-38 vote with 18 abstentions.