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What is MiCA? – Peter Dillon

What is MiCA?

Last Updated on July 2, 2022

Markets in Crypto-Assets (MiCA) is a proposed regulation in EU law. It is intended to help streamline distributed ledger technology (DLT) and virtual asset regulation in the European Union (EU) whilst protecting users and investors.

The full name of the 24 September 2020 proposal is the “Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 COM/2020/593 final”. MiCA is part of a Digital Finance Package that intends to transform the European economy in the coming decades.[1]

MiCA provides legal certainty around crypto assets – cryptocurrencies, security tokens and stablecoins. It is similar to Europe’s Markets in Financial Instruments Directive (MiFID), which is a legal framework for securities markets, investment intermediaries and trading venues.

MiCA on