ESMA is preparing the implementation of the Markets in Crypto-Assets Regulation
February 9, 2024 at 3:16 pm,
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ESMA is preparing the implementation of the Markets in Crypto-Assets Regulation. #MiCA is a crucial regulatory step, but it does not address all the risks associated with cryptos – hence it is not a safe haven for investors 🙉. Based on our experience with two rounds of consultations launched and one yet to come, a constructive dialogue with the industry, and a fruitful exchange with decision makers, we put together a few important reminders 🗓️ Timeline buzz: While MiCA has been adopted by legislators, there is still a long way before it fully enters into application – July 2026.
⚠️ Transitional period: The period before full application might create confusion for investors regarding applicable rules and increase the risk of regulatory arbitrage.
🧿 National eye: Competent authorities will set in place authorisation procedures, communication lines with industry, effective coordination with other EU NCAs.
🔊 Industry take: Get ready-set-go for adapting business practices and applying the MiCA rules as early as possible.