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ARTICLE · 20 JANUARY 2025

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MiCAR Unveiled: A Game-Changing Regulation For Crypto In The EU

AGPLAW | A.G. Paphitis & Co. LLC
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The Markets in Crypto-Assets Regulation (MiCAR) was officially adopted on 31 May 2023. The new Regulation, which is part of the European Commission's Digital Finance Strategy...

European UnionFinance and Banking
Andrea Hadjigeorgiou
Andrea Hadjigeorgiou
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The Markets in Crypto-Assets Regulation (MiCAR) was officially adopted on 31 May 2023. The new Regulation, which is part of the European Commission's Digital Finance Strategy, represents a groundbreaking legal framework that establishes harmonized rules for crypto assets across the European Union.

n Cyprus, as of January 1, 2025, Crypto Asset Service Providers are required to obtain license from Cyprus Exchange Securities Commission and comply with all applicable regulatory requirements to operate within the European Union.

The Regulation aims to provide legal certainty, enhance consumer and investor protection, ensure financial stability, promote market integrity and foster innovation while preventing market abuse and financial crime.

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