The Digital Finance Package Is Imminent – What To Take Into Consideration?

The Digital Finance Package, which was originally adopted in September 2020, is finally coming to life this spring. The package aims to make the financial sector in the EU more competitive and give consumers access to innovative financial products while ensuring consumer protection and financial stability. One key aspect of the Digital Finance Package is that it included proposals for a Regulation on Markets in Crypto-assets ("MiCAR") and a pilot regime for market infrastructures based on distributed ledger technology ("DLT Pilot Regime").

The DLT Pilot Regime entered into force last summer and became applicable on 23 March 2023. The vote to accept MiCAR, on the other hand, is due on 19 April at the European Parliament and, if approved, the regulation is expected to become applicable in 12 months for stablecoins and in 18 months for other parts of the regulation after the date of publication.