Summary: 27 member states in the EU’s council wholly supported the bloc’s Markets in Crypto Assets regulation or MiCA during a vote on May 16. European Union ministers also backed new crypto tax laws mandating that operators disclose users’ holdings to relevant agencies as lawmakers hope to mitigate tax evasion. Today’s vote brings MiCA’s implementation one step closer, with the crypto policies expected to officially activate around mid-2024. 27 member states in the European Union’s council wholly supported the bloc’s