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Navigating #MiCA CASP Licensing: The Future of Crypto Regulation in the #EU Are you prepared for the upcoming MiCA Regulations? If your business operates in the EU’s digital asset space, obtaining your Crypto-Asset Service Provider (CASP) license is essential to remain compliant under the MiCA 2024 framework. Plus, all existing #VAPS also need to obtain #MiCA license. In our latest guide, we cover: ✔️ What the MiCA CASP license entails ✔️ Key requirements for compliance ✔️ How to seamlessly transition from a VASP to CASP ✔️ Step-by-step guidance on the application process Don’t let the complexity of MiCA regulations slow you down! At Complium, we make the licensing process simple, providing expert support every step of the way. 📅 Book a #FREE 30-minute consultation to ensure you're on track for MiCA compliance: https://lnkd.in/dFHpgfDV 🔗 Read the full guide here: https://lnkd.in/dXRg__2G #MiCA #CASP #CryptoRegulations #FintechCompliance #MiCALicense #VASPLicense #EUCompliance #Complium #Crypto

On December 30, 2024, the European Union officially enacted the Regulation on Markets in Crypto-Assets (MiCA – Markets in Crypto-Assets), establishing a unified legal framework for regulating crypto-assets and related services. MiCA positions the EU as a leader in crypto industry regulation, setting standards that may be adopted by other jurisdictions. Key innovations of the regulation include: 🔹 Market supervision mechanism: This will involve collaboration between national regulators and the European Securities and Markets Authority (ESMA). 🔹 Ban on anonymous crypto payments. 🔹 Disclosure obligations: Market participants must publish documents with detailed descriptions of their projects, the technologies used, and associated risks. 🔹 Advertising requirements: Marketing materials must include warnings about the risks associated with investing in crypto-assets. 💡 For businesses, this entails not only new opportunities but also the necessity to adapt. We recommend focusing on the following steps now: 1. Analyze your operations for compliance with the regulation, identify aspects requiring changes, and develop a detailed action plan to meet MiCA requirements. 2. Begin the process of obtaining mandatory authorizations from national regulatory bodies. 3. Prepare technical documentation: Develop comprehensive descriptions of your projects, technologies, risks, and more. If you have questions or need assistance in adapting your business to MiCA, we’ll be happy to help. Contact us: 📱 +380676744721 ✉️ info@barbashyn.law #MiCA #ITlaw #ITlawyer #crypto #cryptolaw #MarketsinCryptoAssets

𝗖𝘆𝗦𝗘𝗖 𝗣𝗿𝗲𝗽𝗮𝗿𝗲𝘀 𝗳𝗼𝗿 𝗠𝗶𝗖𝗔: 𝗔 𝗡𝗲𝘄 𝗘𝗿𝗮 𝗶𝗻 𝗖𝗿𝘆𝗽𝘁𝗼 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 As the European Union gears up for a significant shift in crypto asset regulation, the Cyprus Securities and Exchange Commission (CySEC) is taking proactive steps to ensure a smooth transition. Here's what you need to know: 🔄 Transition Timeline: • By December 30, 2023: EU moves from national laws to common Markets in Crypto-Assets (MiCA) regulations. • October 17, 2023: CySEC stops accepting new Crypto Asset Service Provider (CASP) applications under national laws. • July 1, 2026: Deadline for CASPs to transition from national registration to MiCA authorization. 📋 Key Changes: 1. CASPs registered under national laws before Dec 30, 2023, can operate until July 1, 2026, or until granted/refused MiCA authorization 2. New regulatory standards from the European Commission will apply once MiCA takes effect 3. From Oct 30, 2023, CySEC will no longer accept notifications from European Economic Area entities intending to provide services in Cyprus under national rules 👀 What to Watch: • Upcoming publication of the European Commission's Regulatory and Implementing Technical Standards • In the meantime, refer to ESMA's Draft Technical Standards This transition marks a significant step towards harmonized crypto regulation across the EU. Stay informed and prepare your business for these upcoming changes! #CryptoRegulation #MiCA #FinTech #EU #EuropeanUnion #CySEC #Crypto #Strategy #Cyprus

As of June 30, the MiCA ("Markets in Crypto Assets") regulatory framework is officially in force across Europe, marking a significant step forward for the cryptocurrency industry. MiCA introduces clear rules and classifications for crypto assets, eliminating gray legislative areas and ensuring clear implementation responsibilities. The Budget and Finance Committee of the Parliament of the Republic of Lithuania has registered the second version of the draft law "Law on Crypto-Asset Markets of the Republic of Lithuania" on June 21, 2024. This draft aims to enhance market transparency, consumer protection, and the efficient operation of the crypto-asset market. Key changes: Regulatory Provisions: Expanded and detailed regulatory provisions for greater market transparency and protection for crypto-asset holders. Expanded Scope: Now applies to a wider range of crypto-asset service providers, including asset-backed token issuers and exchanges. Strengthened Oversight: New measures for effective market oversight and risk management. Licensing Procedures: Revised and simplified licensing requirements and procedures. Stricter Requirements: More detailed information about operations, financial status, and qualifications of managers. Manager Competence: Detailed requirements and a comprehensive qualification assessment process to ensure only qualified individuals lead crypto-asset service companies. This regulatory project is intended to ensure market transparency and service reliability for both providers and consumers. The new regulations aim to foster a stable and reliable crypto market by ensuring that service providers operate transparently and responsibly. Enhanced consumer protection measures are designed to safeguard the interests of crypto-asset holders. Additionally, the revised licensing and operational requirements provide clearer guidelines for service providers, facilitating compliance and operational efficiency. Recognizing the complexity of these regulations and the challenges financial market participants face, we invite crypto-asset service providers to reach out to us if you have any questions regarding MiCA implementation and regulatory compliance. We can help solving these issues and ensure a smooth transition to the new regulatory framework. #governance #risk #compliance #MiCA

⏱️ Here's what the crypto industry can expect as the EU's MiCA applies over the course of the next two years 👇 📌 Staggered timelines and implementation periods across the EU will prompt market consolidation as not all existing service providers will secure Markets in Crypto-assets Regulation (MiCA) licenses. Some will look to capitalise on the interim period before winding down operations. 📌 Regulators need time to upskill staff as there is a lack of expertise in authorising and supervising this sector, which requires substantial training efforts. 📌 Crypto-asset service providers (CASPs) will face a complex regulatory framework that includes anti-money laundering laws, the Digital Operational Resilience Act (DORA) and the Electronic Money Directive (EMD). Determining applicable provisions and required documentation will be challenging for some. 🔑 Despite these challenges, the key crypto market outcomes include fostering trust among retail clients and facilitating cross-border operations within the EU. MiCA’s all-encompassing regime set a precedent for global regulatory frameworks, with other jurisdictions replicating some of MiCA’s provisions. Read XReg Partner Ernest Lima’s recent article on crypto after MiCA for more insights into the next two years 👉 https://bit.ly/45VKYlB #CryptoRegulation #MiCA #CASP #DORA #EMD

LCX, the Liechtenstein Cryptoassets Exchange, has filed a pre-application for the Pan-European MiCA license (Markets in Crypto Assets Regulation) in Liechtenstein. https://lnkd.in/dNxv2Nyq #LCX #MiCA #CryptoRegulation #Liechtenstein #PanEuropeanLicense #BlockchainCompliance #CryptoAssets #RegTech #CryptoInnovation #DigitalFinance #CryptoExchange #CryptoLicensing #EuropeanCrypto

Crypto Roadmap - crypto regulatory regime goes live in 2026 Two important updates on the next steps for UK crypto regulation have been published: Tulip Siddiq MP has set out the government's approach to cryptoasset regulation in a keynote address at the 'Tokenisation Summit: UK government's approach to tokenisation and regulation' where she also discussed initiatives including the Digital Securities Sandbox and the issuance of a digital gilt instrument (DIGIT) announced in the Mansion House speech on 14 November 2024 (see our blog post on Mansion House here). The FCA has published a blog post on how stakeholder roundtables have helped shape its approach to regulating certain areas of crypto, and an indicative roadmap of key dates for the development and introduction of the UK’s crypto regime. The FCA has also published a research report on consumer attitudes and behaviours towards crypto. Full FREE article here: #legal #crypto #FCA #regulation #legalnews https://lnkd.in/ejPD6jR7

🇪🇺As the December 30, 2024, MiCA deadline approaches, both regulatory bodies and crypto-asset service providers are finalising preparations to operate under the new regulatory framework.🇪🇺 While certain provisions, particularly those concerning stablecoins, have been in effect since June 30, 2024, the majority of the regulation will become applicable on December 30, 2024. In anticipation of MiCA's full implementation, industry participants have been adjusting their operations to ensure compliance. For instance, Coinbase announced plans to delist certain stablecoins in the European Economic Area by the end of the year to align with MiCA's requirements. This has also been observed with other CASPs operating in the region. The European Supervisory Authorities, including ESMA and EBA have been actively preparing for MiCA's full implementation, releasing the final set of policy documents to facilitate a smooth transition. These activities have included releasing final guidelines and templates to support applicable businesses in this regulatory transition. With MiCA being top of mind for crypto asset firms right now, we’re supporting institutions by offering a 25% discount on our in depth MiCA course with the code "christmas" on checkout. (Link in the comments)!

#WirexRefundSaga MiCA Regulation: A Milestone for Investor Rights in Cryptoassets The enforcement of the European MiCA regulation (Markets in Crypto-Assets) represents a significant step forward in regulating cryptoassets across Europe. As investors, we now benefit from a clear framework designed to ensure transparency, security, and the protection of our rights. However, despite this progress, some platforms seem to disregard their obligations. I am personally affected, as my account was closed by a neobank, Wirex Limited, without returning my funds (cryptocurrencies and euros). This situation raises a fundamental question: Are platforms truly adhering to the new standards imposed by MiCA? MiCA and Platform Responsibility The MiCA regulation imposes strict requirements on transparency, fund restitution, and investor protection. Companies operating in the crypto sector are legally bound to comply with these obligations or face penalties. This regulatory framework is designed to restore user confidence and ensure better dispute management. A Call for Accountability As a client, I am calling on Wirex to fully comply with the MiCA regulation, return my funds, and uphold my rights as an investor. Companies in this sector must understand that regulatory compliance is not optional—it is a legal and moral obligation. A Message to Investors and Businesses To investors: Be aware of your rights. The MiCA regulation was created to protect you. Demand transparency and compliance with the law. To businesses: Regulation is an opportunity to improve practices and build stronger trust with your users. I will continue to stand up for my rights and raise awareness within the community about the importance of regulation in this rapidly growing sector. Together, we can make the world of cryptoassets safer and fairer for everyone.