The European Commission said it was investigating whether the European Union’s historic crypto framework, the Markets in Crypto-Assets (MiCA) Regulation, remains fit for purpose as digital asset markets evolve.
The consultation, which remains open until August 31, seeks responses from the public and industry stakeholders, including crypto companies, financial institutions, technology providers, academics and consumer groups, the EU executive announced on Wednesday.
The MiCA was passed in 2023, establishing the EU’s first harmonized regulatory regime for crypto-assets and related services. The framework covers cryptoassets and stablecoins, as well as cryptoasset issuers and service providers operating within the bloc. The first regulations, related to stablecoins, came into force in June 2024, and the rules became fully applicable the following December.
The Commission said it is currently reassessing the framework in light of the rapid evolution of digital asset markets and changes in the international regulatory landscape since the initial development of MiCA.
The consultation includes both a public questionnaire and a more technical targeted consultation focusing on the legal and operational aspects of the scheme.
