The European Union's Markets in Crypto-Assets Regulation
(“MiCA” or “Regulation”) has officially
entered into its application phase in 2025.
MiCA introduces a comprehensive legal regime governing the
crypto-assets ecosystem across the European countries, by setting
out uniform rules governing the issuance, public offering and
admission to trading on platforms of crypto-assets –
including asset-referenced tokens and e-money tokens. It also
establishes robust regulatory requirements for crypto-asset service
providers (CASPs).1
The Regulation covers crypto assets that are not currently
regulated by existing EU financial services legislation.
This new legal framework aims to strike a balance between
fostering technological innovation and ensuring market integrity
and financial stability. Central to its objectives is the
protection of consumer rights, achieved through specific provisions
designed to ensure transparency and informed decision-making. To
this end the