⚖️ Regulation & Legal: Eu Crypto Law
The European Union's Markets in Crypto-Assets (MiCA) regulation transitional period ended on June 30, establishing a new role for the Autorité des marchés financiers (AMF) in overseeing crypto-assets. The Pacte law, which previously governed crypto-assets in France, is now superseded by MiCA.
The new regulatory framework aims to provide clarity and consistency across the EU, with the AMF playing a key role in implementing MiCA. However, over 80% of Europe's crypto firms still lack a license, raising concerns about the impact of MiCA on the industry.
The lack of licensing could lead to increased regulatory scrutiny and potential enforcement actions against non-compliant firms. As a result, crypto firms operating in the EU will need to adapt to the new regulatory environment. The EU's regulatory approach is being closely watched by other jurisdictions, including the US, as a potential model for crypto regulation.
The new regulatory framework aims to provide clarity and consistency across the EU, with the AMF playing a key role in implementing MiCA. However, over 80% of Europe's crypto firms still lack a license, raising concerns about the impact of MiCA on the industry.
The lack of licensing could lead to increased regulatory scrutiny and potential enforcement actions against non-compliant firms. As a result, crypto firms operating in the EU will need to adapt to the new regulatory environment. The EU's regulatory approach is being closely watched by other jurisdictions, including the US, as a potential model for crypto regulation.