MICA passes vote in the EU Parliament
Published 27 April 2023
Category: Financial Regulation
On 20 April 2023, the EU parliament formally approved the Markets in Crypto Assets Regulation (MiCA), after being informally agreed to back in June 2022.
The new regulation will cover crypto-assets that are not regulated by existing financial services. This includes new common rules on supervision, consumer protection and environmental safeguards of crypto-assets
MiCA will also introduce rules regarding AIFMs. We refer to our previous update, which can be found here.
Next steps: MiCA will now have to be formally endorsed by the Council before publication in the Official Journal of the European Union. The regulation will enter into force 20 days later and shall be applicable by Q4 2024.
We will post ongoing updates regarding MiCA, and any releases from the EU, ESAs and the FSA which relates hereto.
Tags: Crypto-assetsMiCA
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