Following the publication of the EU MiCA Regulation in the Official Journal of the European Union (OJEU) on Friday 9th of June, we now have a clear roadmap about the developments of the crypto asset market and its service providers in the EU.
MiCA will enter into force on 29 June 2023. However, its provisions will become applicable on June 30th 2024 and on December 30th 2024.
In the meantime, ESMA will publish three consultation packages (the first one to cover the Level 2 and 3 measures with authorisation, governance, conflicts of interest, and complaint handling procedures).
Please see below the main timelines about the MiCA Regulation.
· MiCA Publication in the Official Journal – June 9th, 2023
· MiCA Enter into force – June 29th, 2023
· first consultation package – July 2023
· second consultation package – October 2023
· third (and final) consultation package, including the MiCA mandates – Q1/2024
· rules on E-Money tokens and Asset-Referenced tokens become applicable – June 30th, 2024
· rules on remaining provisions of MiCA – December 30th, 2024
FiveComply team will provide more details about the development of the EU Crypto Asset Market very soon. Stay tuned!