**EU Leads in Crypto Regulation with MiCA**

The European Union is pioneering crypto regulation with the Markets in Crypto-Assets Regulation (MiCA), effective since June 2023. This comprehensive framework aims to guide developers and investors across the EU's 27 member states.

At the AFME conference on Sept. 23, Derville Rowland, Deputy Governor of the Central Bank of Ireland, highlighted Ireland's proactive stance on MiCA. She emphasized blockchain's transformative impact on financial services and stressed the importance of MiCA in fostering financial inclusivity and democratizing finance.

MiCA introduces a unified regulatory framework, setting conduct obligations for issuers and service providers. Rowland's priorities include ensuring EU-wide coordination and improving the authorization process through industry engagement.

Member States are actively preparing for MiCA. Spain plans early implementation by December 2025, and Latvia offers pre-licensing consultations to align with the new regulations. Europe aims to close the innovation gap with the US and China, focusing on financial stability and competitiveness.