LIVEFirst Batch of EU Crypto Rules Published Post-MiCA, Could MiCA Be Destined to Fail?
In May 2023 the European Union published its new regulatory framework that would overlook cryptocurrencies, cryptocurrency issuers and crypto-asset providers known as the Markets in Crypto-Assets (MiCA) regulation.
On 12 July 2023, the EU’s financial markets regulator and supervisor, the European Securities and Markets Authority (ESMA), published the first-ever consultation package under the MiCA regulation.
“This first consultation package is an important milestone for ESMA in the implementation of the MiCA framework. It translates our ambition to set high regulatory standards in the EU for crypto-asset-related activities into concrete requirements,” ESMA’s Chair, Verena Ross said in a press release.
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