The EU Markets in Crypto-Assets (MiCA) Regulation Explained

The Markets in Crypto-Assets Act, or MiCA, a landmark regulatory framework in the EU, is now a reality. The European Parliament cast its definitive vote on April 20, 2023, and the Act was subsequently ratified by the Economic and Financial Affairs Council of the EU on May 16, 2023. This acceptance marks the successful conclusion of the legislative process, signifying that the Act has been officially adopted and now is anticipated to enter into force on the 20th day following its publication in the Official Journal of the European Union.

MiCA establishes a unique regulatory environment in the EU for crypto businesses, offering greater clarity on the overarching rules for industry players. It's designed to deliver transparency, uniformity, and security in the realm of digital assets.

This article will provide a comprehensive overview of the now-effective MiCA Act, delving into its key aspects, such as:

• What is MiCA?
• Who and what does MiCA apply to?
• What are the key points of the MiCA Regulation?
• When will MiCA become effective?

To learn more, you can view the full text of the EU MiCA legislation.