The MiCA Marathon: Are we reaching the finishing line?

Today, the European Parliament adopted MiCA — Markets in Crypto Assets Regulation — the first comprehensive piece of crypto regulation that introduces sweeping new requirements from prudential, market integrity, to consumer protection. With MiCA, crypto assets regulation in the EU will no longer only focus on countering illicit crime – we will cover the EU’s AML package in another entry. Requirements concerning stablecoins will be implemented first in July 2024, whereas all other MiCA rules will be implemented in January 2025. Nevertheless, Europe is still a global leader in crypto regulation, and has certainly provided clarity to businesses on how to operate in the single market. With MiCA, businesses will no longer have to navigate 27 different crypto regulatory frameworks.