MiCA milestone - EU adopts crypto regulatory framework

Firms that obtain authorisation under MiCA will be able to operate across the EU under a single set of rules, while investors are to benefit from greater certainty and protection. Charlotte Hill and Melissa Whitley examine the impact of MiCA on crypto firms and key takeaways.

Charlotte Hillis a partner and head of the Financial Services Regulatory group at Taylor Wessing in London, whereDaniel Hirschfieldis senior counsel - Knowledge and Melissa Whitley is an associate. Contact them onc.hill@taylorwessing.com,d.hirschfield@taylorwessing.com and m.whitley@taylorwessing.com.

On 16 May 2023 the Regulation on Markets in Cryptoassets (MiCA) was adopted by the Council of the European Union, following approval from the European Parliament on 20 April 2023, marking the final step in the legislative process and making the EU the first major jurisdiction with a comprehensive crypto licensing framework.