Following our recent update (MiCA and Transfers of Funds Regulation finalised), both the Markets in Crypto-Assets Regulation (MiCA) and the recast regulation on information accompanying transfers of funds (which will capture transfers of crypto-assets) were published in the Official Journal today, 9 June 2023.
MiCA (Regulation (EU) 2023/1114) will apply from 30 December 2024, save for:
- The mandates to start preparing Level 2 measures which will apply from 29 June 2023.
- Titles III and IV (the framework for stablecoins (asset-referenced tokens and e-money tokens)) which will apply from 30 June 2024.
The recast Transfer of Funds Regulation (Regulation (EU) 2023/1113) will apply from 30 December 2024.
To discuss the impact of the new regulations on your business, please get in touch with your usual contact in our Financial Regulation Group.
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ%3aL%3a2023%3a150%
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
