Since the first theoretical proposal of bitcoin in 2008, the importance and diversity of cryptoassets has not stopped growing.

The MiCA (Markets in CryptoAssets) regulation is being developed within the European Commission's Digital Finance Strategy Package, launched in September 2020, with the promotion of a regulation on cryptoassets as one of its 3 axes.


MiCA

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From a regulatory perspective, cryptoassets have an impact on all 4 dimensions of financial supervision. MiCA seeks to establish a framework that protects these dimensions: financial inclusion, stability, integrity and consumer protection.

The regulation defines:

  • The basic concepts of the regulation.
  • The regime for the issuance of cryptoassets.
  • The rights and obligations in the provision of cryptoasset services.
  • Specific provisions to prevent market abuse.
  • The functions of the competent authorities in the field of cryptoassets.


The approval of MiCA will have an impact on the different players in the financial market:

  • For the entities belonging to the cryptoasset ecosystem, the regime establishes a legal framework to which entities providing services or issuing in the EU will be subject.
  • For traditional financial institutions, the adoption of the regulation obliges them to consider the strategy to be maintained in relation to cryptoassets.

The provisions of the MiCA Regulation will enter into force on December 30, 2024, with the exception of the provisions relating to asset-linked tokens and e-money tokens, which will enter into force on June 30, 2024.

Management Solutions' value proposition leverages the firm's regulatory expertise, digital asset expertise, and functional and technical knowledge of the underlying technology, structured around five axes:

  • Exploration of business opportunities and preparation of the business case to support the decision on the strategy to be adopted.
  • Define the business model and associated processes.
  • Support in the identification of needs to comply with the various regulatory and financial crime prevention aspects promoted by MICA.
  • Support in the implementation of crypto asset services projects.
  • Analysis and technological definition of blockchain solutions.