With the final publication of the Markets in Crypto-Assets (MiCA) regulation on Friday, the dates for it coming into force are now clear. Several regulators are involved, but the European Securities and Markets Authority (ESMA) has most of the responsibilities. Today it published a timeline confirming its plans for three consultations, with the first starting next month.
MiCA has two sections related to stablecoins – e-money tokens and asset-referenced tokens. These are the first regulations to come into force in June 2024, with the rest to follow in December 2024.
The content of the three consultations has not been confirmed, but the first will include authorization, governance, conflicts of interest, and complaint handling procedures.
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