How does the EU regulate crypto-assets?

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.

What is the markets in crypto-assets regulation (mica)?

The Markets in Crypto-Assets Regulation (MiCA) institutes uniform EU market rules for crypto-assets. The regulation covers crypto-assets that are not currently regulated by existing financial services legislation.

When will cryptocurrencies become legal in Europe?

The European Union’s Landmark Crypto Regulation Explained Crypto firms in Europe now face tighter rules as well as easier access to multiple markets. It's expected to become law in July 2023. The EU is mulling legislation bring the bloc up to date with various new technologies. Image: Shutterstock.

Will mica prevent future blow-ups in crypto?

While there’s no guarantee that MiCA will prevent any future blow-ups in the industry, regulators are hopeful that it will at least curb the excesses of crypto’s “wild west”. Markets in Crypto Assets (MiCA) is a piece of European Union regulation that will likely become law in July 2023.