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ARTICLE · 04 MAY 2023

EU Crypto Regulation - MiCA And TFR Adopted

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On 20 April 2023, the European Parliament adopted the Markets in Crypto Assets Regulation ("MiCA") and the Regulation on Information accompanying transfers of funds and certain crypto-assets...

European UnionTechnology
Niall Esler
Niall Esler
Shane Martin
Shane Martin
Conor Daly
Conor Daly
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On 20 April 2023, the European Parliament adopted the Markets in Crypto Assets Regulation ("MiCA") and the Regulation on Information accompanying transfers of funds and certain crypto-assets ("TFR") by passing its final vote. It is expected that MiCA and the TFR will be published in the Official Journal by the end of June 2023 and enter into force in July 2023. The provisions regarding the regulation of stablecoins under MiCA will apply from July 2024. The remainder of the provisions under MiCA together with the TFR will apply from January 2025.

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MiCA

Scope

MiCA introduces a dedicated and harmonised legislative framework for crypto-assets and related activities and services. MiCA applies to natural and legal persons and other undertakings that are engaged in the issuance, offer to the public and admission to trading of crypto-assets or that provide services related to crypto-assets in the European Union ("EU") (the latter being referred

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