Launch & Implication of MiCA Regulation on Digital Assets in EU
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The EU Markets in Crypto Assets Regulation (MiCAR) came into effect June 2024, and is a first-mover in global efforts to regulate crypto assets and related activities (incl. stablecoins)
MiCAR regulates transparency and disclosures requirements for the issuance and trading of crypto assets, the authorisation and supervision of crypto asset service providers (CASPs) and issuers of crypto assets, and the proper business organisation of CASPs and issuers.
While MiCAR’s biggest impact will be on crypto-native firms, it is also relevant to financial institutions looking to engage with the space (e.g., custodians, exchanges, brokers, asset managers, advisors, banks, …) and firms outside of the EU as MiCAR is expected to shape how other jurisdictions regulate the space
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