European Union

Austria v Commission
State aid
Construction of new nuclear reactors: the General Court dismisses the action brought by Austria to contest Hungarian investment aid approved by the Commission

Last Thursday (24 November), EU ministers gathered once again to face the seemingly eternal question of how to tackle the energy crisis that has raged in Europe for the last 17 months.

Written by Issam Hallak (1st edition).

The European Parliament will shortly vote on adopting the regulation on markets in crypto-assets (MiCA). The regulation would establish harmonised rules for crypto-assets at EU level, thereby providing legal certainty for crypto-assets not covered by existing EU legislation. By enhancing the protection of consumers and investors as well as financial stability, the regulation promotes innovation and use of crypto-assets.

The regulation identifies and covers three types of crypto-assets, namely asset-referenced tokens (ART), electronic money tokens (EMT), and other crypto-assets not covered by existing EU law. The legislation would regulate issuance and trading of crypto-assets as well as the management of the underlying assets, where applicable, with additional regulatory rules aimed at ‘significant’ ART and EMT. The provisional agreement resulting from the negotiations aims at securing liquidity and redemption, and envisages the inclusion of the environmental impact of crypto-assets in communications to investors.

Versions

• November 2022: Markets in crypto-assets (MiCA) (1st edition)

Proposal for a regulation of the European Parliament and of the Council on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 Committee responsible:Economic and Monetary Affairs (ECON)COM(2020) 593
24.9.2020Rapporteur:Stefan Berger (EPP, Germany)2020/0265(COD)Shadow rapporteurs:Eero Heinäluoma (S&D, Finland)
Ondřej Kovařik (Renew, Czechia)
Ernest Urtasun (Greens, Spain)
Antonio Maria Rinaldi (ID, Italy)
Andżelika A. Możdżanowska (ECR, Poland)
Chris Macmanus (The Left, Ireland)Ordinary legislative procedure (COD)
(Parliament and Council on equal footing
– formerly ‘co-decision’) Next steps expected: Final first-reading vote in plenary

EU member states have handed out nearly €100 billion worth in free CO2 pollution credits to industry since 2013 – more than they earned themselves from the EU carbon market, a new study shows.

In today’s edition of the Capitals, find out more about Environmental NGOs starting legal proceedings against the Finnish government, Bulgarian hoteliers threatening to expel Ukrainian refugees, and so much more.

FBI agents have raided the Croatia-moored luxury yacht of Ukrainian tycoon Viktor Medvedchuk, accused by Kyiv of treason for his pro-Russian activities. The search of the 92-metre-long Royal Romance yacht, moored at the Adriatic town of Trogir, was carried out...

The approval of the decision on the liberalisation of visas for Kosovo is expected to be on the agenda at the meeting of EU ambassadors in Brussels on Wednesday. At the Coreper meeting, the decision is expected to be approved...

MEPs are concerned that eavesdropping with Pegasus-type software is escalating, but the bloc is unlikely to impose rules as the final word rests with member states who dislike such oversight, experts said on Monday (28 November).

Poland plans to charge Ukrainian refugees for food and housing after 4 months of staying in state accommodation, the government said on Tuesday (29 November).

An item of traditional Albanian clothing, the xhubleta has been declared as part of the world’s intangible cultural heritage and thus protected by UNESCO, according to Culture Minister Elva Margariti. The xhubleta is and is traditionally worn by women in...

The European Union's energy chief on Wednesday (30 November) defended the bloc's proposal to cap gas prices and said countries will negotiate possible changes to the proposal, after a backlash from EU member states.

Since Russia started the war against Ukraine, its diplomacy has abandoned the veiled messages to countries in the Western Balkans and now resorts to direct threats, writes Orhan Dragaš.

Hungarian Foreign Affairs and Trade Minister Péter Szijjártó defended his country’s continued block of formally convening the body responsible for developing the NATO-Ukraine relationship over minority rights row with Kyiv. NATO foreign ministers began a two-day meeting in Bucharest on...

The COVID-19 crisis demonstrated that the global REIT sector is incredibly resilient. In Europe, the sector’s recovery has been five times faster than it was following the Global Financial Crisis, thanks to the diligent steps the sector took following the...

Three Chinese astronauts arrived on Wednesday (30 November) at China's space station for the first in-orbit crew rotation in Chinese space history, launching operation of the second inhabited outpost in low-Earth orbit after the NASA-led International Space Station.

A new levy on excess revenues made by electricity producers was approved by the government on Monday on the basis of the EU regulation, which orders member states to tax the extraordinary profits of selected power plants and distribute them to households.

Igor Tuleya – a judge critical of the conservative government – is not guilty of enabling public disclosure of information and can return to work after being suspended for over two years, ruled Poland’s Supreme Court on Tuesday. Tuleya was...

Labour grandee David Miliband has hinted at a return to national politics nearly ten years after leaving for the United States, while urging the UK to repair its relations with the EU. “That’s not been decided yet. That’s not done,”...

The European Public Prosecutor’s Office sped up the progress of the investigation into fraudulent activity present in ‘Operation Admiral’, which began in Portugal and resulted in 14 arrests in the country, European prosecutor Jose Guerra confirmed. The magistrate – who...

People in the Chinese manufacturing hub of Guangzhou clashed with white hazmat-suited riot police on Tuesday night (29 November), videos on social media showed, as frustration with stringent COVID-19 rules boiled over, three years into the pandemic.