Final date for MiCA voting round announced
On April 19, the EU will finally decide on the MiCA regulation.
On April 19, the EU will finally decide on the MiCA regulation. A milestone in the history of crypto regulation.
According to the agenda of the EU Parliament, the final vote on Markets in Crypto Assets, better known as MiCA, will take place on April 19, 2023. During that vote a decision must be made on the draft law, which was announced in June. A debate on the draft will take place in the EU Parliament on April 18.
With the MiCA regulation, the EU is setting clear guidelines for handling cryptocurrencies and consumer protection. For example, providers of swaps and wallets must obtain licenses or there must be standards for stablecoin reserves. In the crypto sector, the law has been generally well received. MiCA provides more clarity in a sometimes murky landscape. The law is set to take effect in early 2024.
In October, the European Council already voted with a large majority in favor of the regulation. Owing to pending translations of the proposal (24 languages), the vote was delayed in January.
The MiCA debate on the same day was followed by another debate on the controversial regulation governing money transfers. The Anti-Money Laundering and Financing of Terrorism act (Wwft) initially proposed banning self-hosted wallets. In a more recent version, lawmakers dropped the ban.
