As I recently posted in more detail on Ogier Leman's 'Insights' page, the Council of the EU has published a further draft of the proposed Regulation on markets in cryptoassets (MiCA). It seems likely that MiCA will be published officially in 2023, with a wide range of transitional arrangements and dependencies on regulatory technical standards being developed by various EU regulatory agencies. Being a regulation, it will apply without needing to be implemented at national level. MiCA's impact will be significant, given the 'libertarian' origins of distributed ledger technology and cryptocurrencies and the goals of many purists, but likely welcomed by those seeking to harness the benefits of the technology to replace legacy systems.
If you have queries about the regulatory implications of cryptoassets or related activities, please let me know.
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