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ARTICLE · 28 JANUARY 2024

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2nd Round Of Draft Regulatory Measures For MiCA

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The second round of draft regulatory measures for the Markets in Crypto-Assets Regulation (MiCA), encompassing Level 2 and Level 3 provisions, was separately disclosed by ESMA and the EBA in October 2023.

CyprusTechnology
MariCorp  
MariCorp  

The second round of draft regulatory measures for the Markets in Crypto-Assets Regulation (MiCA), encompassing Level 2 and Level 3 provisions, was separately disclosed by ESMA and the EBA in October 2023

Overview on MiCA

MiCA, as a regulatory framework, constitutes a directly effective European Union Level 1 legislative instrument, aimed at introducing and harmonizing the regulatory landscape for crypto-assets and crypto-asset service providers (CASPs) within the European Union, specifically addressing those entities not covered under existing EU financial services regulations.

MiCA necessitates the development of several Level 2 and Level 3 legislative measures at the EU level, including Regulatory Technical Standards (RTS), Implementing Technical Standards (ITS), and Guidelines, under the new regulatory framework. The responsibility of devising these MiCA Level 2 and Level 3 measures has been entrusted to the European Banking Authority (EBA) and the European

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