European Union: Implemented Crypto Assets Regulation (MiCA) including transparency requirements for asset-referenced tokens and e-money tokens
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Description
Implemented Crypto Assets Regulation (MiCA) including transparency requirements for asset-referenced tokens and e-money tokens
On 30 June 2024, the Markets in Crypto Assets Regulation (MiCA) comes into force. The Regulation applies to issuers of e-money tokens and asset-referenced tokens and includes transparency rules, requiring them to publish a white paper presenting the crypto-asset characteristics, data regarding their asset reserves, and the consumers' rights and obligations. The white paper has to be submitted to the authorities for approval before it is released to the public. Furthermore, the issuers have to ensure that they meet cybersecurity requirements to safeguard the investments in the crypto-assets, or their activities could be suspended.
Original sourceScope
Policy Area
Consumer protection
Policy Instrument
User/subject right
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
supranational
Government Branch
legislature
Government Body
parliament
Complete timeline of this policy change
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2020-09-24
under deliberation
2021-11-19
under deliberation
2022-03-17
under deliberation
2022-06-30
under deliberation
2022-10-05
under deliberation
2023-04-20
under deliberation
2023-05-16
adopted
2023-06-29
in grace period
2024-06-30
in force