MiCA: EU expands crypto regulation
The European Union has proposed an ambitious piece of legislation to address regulatory gaps in relation to cryptoassets and new technologies. Charlotte Hill and Katie Fry-Paul examine the proposal as currently understood.
Charlotte Hillis a partner and head of the Financial Services Regulatory group at Taylor Wessing in London, whereKatie Fry-Paulis an associate. Contact them email@example.com@taylorwessing.com.
The Regulation on Markets in Cryptoassets (MiCA) forms part of the EU’s digital finance package, proposed by the European
Commission on 24 September 2020. The package also contained a digital finance strategy, as well as proposals on digital operational
resilience (DORA) and distributed ledger technology (DLT). The package was intended to bridge a gap in EU legislation regarding
new technologies. On 30 June 2022, the Council presidency and European Parliament reached a provisional agreement on the MiCA
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