On 5 October 2022, the General Secretariat of the Council of the European Union issued the text of the Markets in Crypto Assets Regulation (MiCA) that was agreed on 30 June 2022 following the European Parliament and the Council trialogue negotiations. The regulation will apply to crypto-asset issuers and crypto-asset service providers. The passed proposal includes transparency rules, requiring crypto-asset issuers and providers to publish a white paper presenting the crypto-asset characteristics, data regarding their asset reserves and the consumers' rights and obligations. The white paper will have to be submitted to the authorities for approval before its released to the public. Furthermore, the issuers will have to ensure that they meet cybersecurity requirements to safeguard the investments in the crypto-assets, or their activities could be suspended. MiCA now goes to the European Parliament and Council of the European Union for adoption.
Original source