On 22 January 2025, the Luxembourg Parliament adopted a law
implementing, inter alia, MiCA1 into national
law (the "Law").
Among other things, the Law confirms and extends the CSSF's
role, in accordance with MiCA. Some of the key aspects of the new
Law are the formal implementation of the CSSF's supervisory
powers and competences, and the introduction into national law of
clear enforcement mechanisms including penalties for violations,
ensuring an effective regulatory environment.
In addition to MiCA-related provisions, the Law also modifies
the Law of 20042 to align the Luxembourg national legal
framework with MiCA provisions. Indeed, the new Law has officially
repealed the VASP3 registration requirement.
Consequently, persons that are not registered as VASPs, will have
to directly seek authorisation in accordance with MiCA to provide
crypto-asset-related services in Luxembourg.
