MiCAR Act

Official name: Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets

Presenting the latest development in the financial landscape: a proposal that forms an integral part of the Digital Finance package. This comprehensive package is strategically designed to bolster the potential of digital finance by fostering innovation and competition, while maintaining a vigilant stance on risk mitigation. The initiative seamlessly aligns with the Commission's overarching agenda of shaping a digitally empowered Europe and cultivating an economy that seamlessly serves the populace.

At the heart of the Digital Finance package lies an innovative Strategy dedicated to digital finance within the EU financial sector. The primary objective? To ensure the European Union embraces the ongoing digital revolution, propelling it forward with the pioneering spirit of European firms at the helm. This strategic maneuver aims to democratize the advantages of digital finance, rendering them accessible to both European consumers and businesses.

Comprehensively orchestrated, the package not only encompasses the aforementioned proposal, but also introduces a groundbreaking pilot regime aimed at distributed ledger technology (DLT) market infrastructures. Additionally, a proposition concerning digital operational resilience, along with an initiative to refine and elucidate select EU financial services regulations within this context, complete the comprehensive Digital Finance package.

The official document of the EU Commision can be found here:

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52020PC0593