Crypto Assets Service Providers MiCA Is Around The Corner!

On the 4th June 2018, the Republic of Cyprus along with 21 other Member States and Norway agreed to sign a Declaration creating a European Blockchain Partnership for the specific purpose of establishing a European Blockchain Services Infrastructure. The ambition and underlying purpose of this European Blockchain Partnership, was to support the delivery of cross-border digital public services, enhance the security and privacy of this sector and (although not expressly stated) to prevent any potential calamities in the financial-blockchain sector.

One offspring of this movement was the much-debated Markets in Crypto-Assets Regulation (MiCA). It must be noted from the outset of this article, that MiCA has not yet passed as a Regulation by the European Parliament however, its final and agreed form is already available for inspection to the public.