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EU’s Landmark Crypto Law MiCA Published in Official Journal
The procedural move means landmark licensing, stablecoin and anti-money laundering rules apply as of December 30, 2024.
Updated Jun 13, 2023, 3:08 p.m. Published Jun 9, 2023, 6:34 a.m.
The European Union’s Markets in Crypto Assets law (MiCA) was published in the Official Journal of the European Union (OJEU) on Friday, starting the clock ticking for landmark crypto licensing rules to take effect.
The full law, published alongside related legislation requires crypto wallet providers to identify their customers when they transfer funds, offers crypto companies, such as exchanges and wallet providers, a license to operate across the bloc, and introduces new governance and financial requirements for stablecoin issuers.
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This comes as crypto operators in the U.S. face significant uncertainty, with the Securities and Exchange Commission suing Binance and Coinbase (COIN) on the basis that the tokens traded on their platforms constitute regulated financial instruments.
Publication of the 200-odd pages of law signals formal passage of a bill onto the EU’s statute book. In legal terms the two laws enter into force in 20 days’ time, and its provisions apply on December 30, 2024, with certain provisions taking effect slightly earlier on June 30, 2024.
The political outlines of both laws were agreed last June, though formal agreement suffered numerous delays as the final text had to be translated into the EU’s many official languages.
Read more: EU ‘Crypto Security’ Debate Turns New MiCA Law on Its Head
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- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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UK Plans to Start Regulating Cryptocurrency in 2027
The U.K. government plans to extend existing financial regulation to cover crypto companies, emulating the approach of the U.S. rather than that of the EU.
What to know:
- The U.K. government plans to extend existing financial regulation to cover crypto companies from 2027.
- The Treasury published draft legislation in April, which laid out the framework for crypto exchanges and stablecoin issuance.
- In extending existing financial services rules to the crypto industry, the U.K. will be emulating the approach of the U.S.
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