Innovation in the digital financial sector has overtaken European legislation and regulation in the field of crypto assets. To date, the European Union lacks uniform guidelines for issuers and service providers in the crypto universe. The EU now wants to change this. The Markets in Crypto Assets Regulation (MiCA) is intended to create an environment in the European Union that drives the development of crypto assets, the corresponding issues and services, while at the same time containing risks for the market and consumers through a regulatory framework.
The European agreement on the MiCA regulation that has now been reached offers all market participants reason to prepare for the resulting requirements until the regulation is expected to come into force in 2024. It provides a legal framework for innovative business models for both traditional financial service providers and FinTechs - and has the potential to pave the way for issuers of crypto securities and providers of services in the crypto universe to enter the established financial world.
In our whitepaper "Markets in Crypto-Assets Regulation - the impact on service providers in the crypto-universe", we present the planned MiCA regulation in a clear way, put it in the context of already existing European and national regulations and show possible effects on the entire crypto-universe and its participants.
You can download our white paper here:
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Bernd Oppold
Partner, Financial Services
KPMG AG Wirtschaftsprüfungsgesellschaft
Jens Siebert
Partner, Financial Services
KPMG AG Wirtschaftsprüfungsgesellschaft
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