The European Commission said it is seeking feedback on whether the EU’s landmark crypto framework, the Markets in Crypto-Assets Regulation (MiCA), remains fit for purpose as digital asset markets evolve.
The consultation, which remains open until August 31, invites responses from both the public and industry stakeholders, including crypto firms, financial institutions, technology providers, academics and consumer groups, the EU’s executive branch announced on Wednesday.
MiCA was passed by law 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 issuers and cryptoasset service providers operating within the block. The first regulations, related to stablecoins, came into force in June 2024, and the regulations became fully applicable the following December.
The commission said it is now reassessing the framework given the rapid changes in digital asset markets and shifts in the international regulatory landscape since MiCA was first developed.
The consultation includes both a public questionnaire and a more technically targeted consultation focusing on legal and operational aspects of the scheme.
