MiCAR (Markets in Crypto-Assets Regulation) establishes a unified framework for regulating crypto-assets across the EU, moving beyond anti-money laundering to encompass market integrity and consumer protection. It defines rules for issuers of e-money tokens (EMTs), asset-referenced tokens (ARTs), and other crypto-assets, as well as crypto-asset service providers (CASPs). These entities must obtain authorisation and comply with prudential, operational, and governance requirements. Phased implementation begins in June 2024, with full compliance expected by July 2026, although transitional provisions exist for existing CASPs.
MiCAR seeks to balance innovation with risk management by providing regulatory certainty, enhancing consumer protection, and mitigating financial stability risks in the crypto market. The harmonised framework aims to position the EU as a leader in global crypto regulation.
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Published on 10 months, 3 weeks ago
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