On 5 Octo­ber 2022, the European Coun­cil approved its pos­i­tion on the Mar­kets in Crypto Assets (MiCA) reg­u­la­tion. It has been a long pro­cess of nego­ti­ations and amend­ments since the first pro­pos­al was presen­ted by the European Com­mis­sion in Septem­ber 2020.

On 10 Octo­ber 2022, the Com­mit­tee on Eco­nom­ic and Mon­et­ary Affairs voted to con­firm the pro­pos­al for the MiCA reg­u­la­tion. The reg­u­la­tion is not offi­cially adop­ted, how­ever, as it awaits a vote from the lar­ger European Par­lia­ment plen­ary. When adop­ted,  Gijs van de Wouw (HVG Law Block­chain Lead­er) and Timothy Bis­ses­sar expect the reg­u­la­tion to take effect from the second half of 2024.

Read more by click­ing on below Law Alert.