The wide-ranging rules of the new EU crypto regulation
On April 20, 2023, the European Parliament adopted the long-awaited Markets in Crypto-assets Regulation (MiCA), legislation that will provide the basis for the creation of a harmonised and comprehensive European regulatory framework for crypto assets. Alongside MiCA, the legislators approved the recast Transfer of Funds Regulation, which implements into European law a controversial ‘travel rule’ developed by the Financial Action Task Force (FATF). Both pieces of legislation are yet to formally become law, which is expected to take place in June 2023 and will trigger the 18-month run-up period to their...
