The European Union’s Markets in Crypto Assets Regulation (MiCA) has been tabled for an April 18 discussion in the European Parliament, heralding final formal agreement of the landmark law that brings in a crypto licensing regime across the bloc, according to an agenda published on the parliament’s website.
The law’s political outlines were finalized in June, but there have been multiple delays in definitively agreeing on a legal text, which must be translated into the EU’s 24 official languages.
Under normal parliament procedures the final vote on MiCA will take place the following day, April 19.
The MiCA debate will be followed by discussions on a further law known as the transfer of funds regulation, which controversially requires crypto providers to verify customers’ identity and which was also provisionally agreed back in June.
The legislation offers crypto companies such as wallets and exchanges a license for operating across the bloc in exchange for meeting governance and consumer protection norms, and also introduces reserve requirements for stablecoins. If approved, it will be published in the EU’s official journal and takes effect between one and three years later.
UPDATE (Mar. 20, 11:10 UTC): Adds additional details.
