The EU brings crypto-assets and crypto-assets service providers under a regulatory framework for the first time. The Council presidency and the European Parliament reached a provisional agreement on the markets in crypto-assets (MiCA) proposal.
Should cryptocurrencies be regulated in the EU?
Recent developments on this quickly evolving sector have confirmed the urgent need for an EU-wide regulation. MiCA will better protect Europeans who have invested in these assets, and prevent the misuse of crypto-assets, while being innovation-friendly to maintain the EU’s attractiveness.
What is the European Union's market in crypto assets regulation (mica)?
The European Union’s Markets in Crypto Assets regulation, MiCA, is due to take effect in 2024, making it the first major jurisdiction in the world to introduce comprehensive, tailored rules for the sector. MiCA’s arrival has met great fanfare.
When will EU crypto rules be rolled out?
An EU finance minister meeting in Brussels approved rules that were thrashed out with the European Parliament, which gave its approval in April. The rules are expected to be rolled out from 2024. Regulating crypto has become more urgent for regulators after the collapse of crypto exchange FTX.
