MiCA and recast Transfer of Funds Regulation published in Official Journal
Following our recent update (MiCA and Transfers of Funds Regulation finalised), both the Markets in Crypto-Assets Regulation (MiCA) and the recast regulation on information accompanying transfers of funds (which will capture transfers of crypto-assets) were published in the Official Journal today, 9 June 2023.
MiCA (Regulation (EU) 2023/1114) will apply from 30 December 2024, save for:
- The mandates to start preparing Level 2 measures which will apply from 29 June 2023.
- Titles III and IV (the framework for stablecoins (asset-referenced tokens and e-money tokens)) which will apply from 30 June 2024.
The recast Transfer of Funds Regulation (Regulation (EU) 2023/1113) will apply from 30 December 2024.
To discuss the impact of the new regulations on your business, please get in touch with your usual contact in our Financial Regulation Group.