What does Mica mean for Europe?

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. This landmark regulation will put an end to the crypto wild west and confirms the EU’s role as a standard-setter for digital topics.

What is the European Commission's Regulation of markets in crypto-assets (mica) proposal?

The European Commission’s Regulation of Markets in Crypto-assets (MiCA) proposal is a regulatory framework developed since 2018 to help regulate currently out-of-scope crypto-assets and their service providers in the EU and provide a single licensing regime across all member states by 2024.

What does the EU's 'mica' regulation mean for cryptocurrencies?

This landmark regulation will put an end to the crypto wild west and confirms the EU’s role as a standard-setter for digital topics. MiCA will protect consumers against some of the risks associated with the investment in crypto-assets, and help them avoid fraudulent schemes.

Is mica a proposed EU regulation or a directive?

MiCA’s status as a proposed EU Regulation instead of a Directive (e.g. the 5th Anti-Money Laundering Directive, also known as AMLD5), which makes transposition discretionary as opposed to immediately enforceable, makes it clear to EU state regulators that there will be no escaping its requirements once it is officially promulgated. 8. Conclusion