MiCA Regulation | Herzog’s Guide to the new EU Crypto Regulatory Framework

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MiCA Regulation | Herzog’s Guide to the new EU Crypto Regulatory Framework

24 April 2023

Dear clients, colleagues and friends,

The European Parliament voted last week to enact the Regulation on Markets in Crypto-Assets (“MiCA“).

MiCA is expected to establish the first pan-European harmonized and comprehensive regulatory framework for crypto-assets and related services and activities.

The new regulation introduces uniform requirements for the offering and market placement of different types of crypto-assets, as well as creates one of the most encompassing regulatory regimes globally for the operation of crypto-asset service providers and for the performance of crypto-asset related activities.

MiCA will apply not only to entities established in the EU, but also to entities conducting the covered activities in the EU, regardless of their place of origin.

Failure to comply with MiCA can result, among others, in substantial fines, periodic penalty payments, withdrawal or suspension of the authorization or offer and removal or ban of natural person from managerial positions.

To assist with understanding and navigating between the novel requirements under MiCA, we are pleased to share our detailed Herzog’s MiCA Guide, providing explanation about its scope, key practical takeaways and insights.

Businesses that are involved in issuance, offering, admission to trading, exchange or transfer of crypto-assets, or which provide other services related to crypto-assets in the EU, should already start preparing a path to compliance with the new regulatory framework before it goes into effect.

To read our MiCA guide >> click here

Feel free to contact us if you have any questions regarding the new regulations and their potential effects on your company’s compliance efforts.

Kind regards,

Ariel Yosefi, Partner
Head of Technology & eCommerce Regulation
Herzog Fox & Neeman

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