MiCA (Markets in Crypto-Assets Regulation) is a landmark regulation introduced by the EU to regulate the crypto-asset industry in its member states. Approved by the European Parliament in 2023, MiCA will fully come into effect in 2024. Implementation will be phased, with some provisions already in effect since June, and the remainder set for December.

As the world’s first comprehensive regulatory framework for crypto-assets, MiCA aims to provide a harmonised legal structure for the issuance of crypto-assets and related services. It establishes a single legal framework that protects consumers, ensures financial stability, and promotes innovation in the digital finance sector. MiCA applies to crypto-asset issuers/offerors and service providers outside existing financial regulation.

The EU is leading the way in creating a robust regulatory environment for the crypto-asset industry. MiCA is an important step towards legitimising and standardising crypto-assets within the financial system, bringing clarity and stability to the market, while safeguarding consumers and the broader financial ecosystem.