New EU crypto regulation deadline passes for service providers
The EU's MiCA regulation reached a key implementation milestone on July 1st, requiring crypto-asset service providers to secure European authorization, enhancing obligations for firms.
The European Union's Markets in Crypto-Assets (MiCA) regulation reached a key implementation milestone on July 1st, as companies providing crypto-asset services were required to secure their European authorization. Adopted by the European Parliament in 2023, the MiCA framework significantly enhances the obligations for firms operating in the crypto sector, such as investment platforms. While the regulation imposes stricter requirements on these service providers, its immediate impact on individual savers and investors is not expected to be substantial. The new rules aim to standardize and regulate the crypto market across the EU. Sources: Le Monde