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ARTICLE · 29 APRIL 2024

Adapting To MiCA: ESMA's Recent Publications For The Crypto Industry

Finance Malta
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The European Securities and Markets Authority (ESMA) has kept up the momentum ahead of the implementation of the Markets in Crypto-Assets Regulation (MiCA) this year.

European UnionTechnology
James Debono (Ganado Advocates)
James Debono (Ganado Advocates)
Mark Caruana Scicluna (Ganado Advocates)
Mark Caruana Scicluna (Ganado Advocates)
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Introduction

The European Securities and Markets Authority (ESMA) has kept up the momentum ahead of the implementation of the Markets in Crypto-Assets Regulation (MiCA) this year.

On 25 March 2024, the EU watchdog published:

  1. a final report on the first package of measures under MiCA;
  2. a final report on the cooperation between various authorities in relation to MiCA; and
  3. a consultation document on the third package of measures under MiCA.

MiCA will establish uniform rules across the European Union (EU) for crypto-assets. ESMA has been busy finalising several aspects under MiCA, which will be implemented in two phases. The provisions of MiCA will generally apply from 30 December 2024, except Titles III (Asset-Referenced Tokens) and IV (E-Money Tokens) which will apply from 30 June 2024.

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