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ARTICLE · 28 JANUARY 2025

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MiCAR – Final Guidelines On Systems Maintenance And Security Access Protocols For Crypto-Assets Other Than ARTs And EMTs

The EU's Market in Crypto-Assets Regulation (MiCAR) became fully operational as of 30 December 2024.

European UnionTechnology

RegCORE – Client Alert | Digital Single Market

QuickTake

The EU's Market in Crypto-Assets Regulation (MiCAR) became fully operational as of 30 December 2024. As explored in PwC Legal's EU RegCORE' series covering developments across the "EU's Digital Single Market, financial services and crypto-assets" MiCAR marks a momentous achievement in creating (i) a new chapter of the EU's Single Rulebook for certain types of crypto-assets that are not classified as "financial instruments" and (ii) concurrently extending existing chapters of the Single Rulebook to those crypto-assets that do qualify as "financial instruments".

To recap, MiCAR applies to all entities offering crypto-assets within the EU, regardless of their geographical location. This means that non-EU persons or entities can issue crypto-assets in the EU, but they must comply with the MiCAR framework and respective supervisory guidelines. Non-EU issuers must register with the relevant national competent

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