The European Parliament gave its final approval to
MiCA last week, paving the way for its publication in the
Official Journal (expected sometime in June or July 2023).
As mentioned in our previous update, MiCA 's aim is to bring
about EU-wide clarity, cohesion and investor protection, and ensure
financial stability, by requiring crypto-asset service providers
(CASPs) to be authorised in order to
operate within the EU. CASPs authorised under MiCA will
then be able to passport their services EU-wide. MiCA will not,
however, prevent an EU person from receiving, on its own
initiative, crypto-asset services from third country providers.
Public offers, and admissions to
trading, of crypto-assets will (subject to certain
exceptions) be subject to transparency, disclosure and
notification requirements, including the obligation to
publish a 'white paper'.
