On 5 October 2022, the European Council approved its position on the Markets in Crypto Assets (MiCA) regulation. It has been a long process of negotiations and amendments since the first proposal was presented by the European Commission in September 2020.
On 10 October 2022, the Committee on Economic and Monetary Affairs voted to confirm the proposal for the MiCA regulation. The regulation is not officially adopted, however, as it awaits a vote from the larger European Parliament plenary. When adopted, Gijs van de Wouw (HVG Law Blockchain Leader) and Timothy Bissessar expect the regulation to take effect from the second half of 2024.
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