ARTICLE · 29 MAY 2023

Key Takeaways As MiCA Reaches The Finishing Line

Herbert Smith Freehills Kramer LLP

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Well over two years after the Markets in Cryptoassets Regulation (MiCA) was first proposed, it has finally received the green light. MiCA will enter into force on 29 June 2023...

European UnionTechnology

Clive Cunningham

Kelesi Blundell

Patricia Horton

This article, first published on 18 May 2023, has been updated following MiCA's publication in the Official Journal on 9 June 2023.

Well over two years after the Markets in Cryptoassets Regulation (MiCA) was first proposed, it has finally received the green light. MiCA will enter into force on 29 June 2023, with some provisions applying a year later on 30 June 2024, and the rest from 30 December 2024. MiCA has been welcomed in some crypto quarters – while meeting certain of its requirements will be challenging, crypto businesses value clarity and consistency in regulation and recognise the importance of investor protection measures in a sector still reeling from recent high profile collapses.

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