A revolution in regulation: MiCA comes to town

The Regulation on Markets in Crypto Assets (MiCA), which was recently agreed at the EU level, will introduce a novel, harmonised framework for the authorisation and regulation of crypto asset service providers. In common with MiFID, a licence granted by the competent authority of one Member State will be valid throughout the EU. MiCA also contains investor protection provisions based on MiFID, as well as specific rules in relation to custodian liability, stablecoins and the disclosure of consensus mechanisms.

This panel discussion was moderated by Konstantinos Adamos - Senior Legal Counsel at Revolut and our colleagues Derek Lawlor (Dublin), Cathrine Foldberg Møller (Lux), Emilien Bernard-Alzias (Paris) and George Morris (London). We considered the market, action taken by regulators in respect of crypto providers and the regulators' stance. We covered and contrasted the current and future regulatory regime in Europe.