On 30 December 2024, MiCA1 became fully applicable
across the European Union ("EU"). This
represents a major step in the tiered deployment of MiCA, following
its entry into force on 29 June 2023 and the entry into application
of Titles III and IV relating to the authorisation and supervision
of asset-referenced and e-money tokens on 30 June 2024.
As a reminder, MiCA establishes a harmonised framework for
crypto-assets, aiming at supporting innovation, introducing
consumer and investor protection and market integrity, as well as
ensuring financial stability. The full application of MiCA has a
number of legal consequences for entities offering crypto-assets
and/or services relating to crypto-assets. We have summarised below
the key implications and the state of implementation of MiCA.
