The European Council published last week information notes (13198/22 and 13215/22) with the final texts of the following two regulations:
– Regulation on markets for crypto-assets (MiCA, 2020/0265 (COD)).
– Regulation on accompanying information for transfers of funds and certain crypto-assets (Revision of WTR, 2021/0241(COD)).
The proposed texts now need to be formally adopted by the European Parliament in order to then enter into force in the member states at the end of 2024; i.e. 18 months after publication in the Official Journal of the EU, which is expected in early 2023.
With this, the intended legislation to combat the criminal misuse of crypto assets is taking concrete shape. We are monitoring the further progress and, as soon as there is a need for action, we will provide you with the corresponding tools and updates for our services.