The European Union is on pace with synchronizing cryptocurrency legislation by introducing Markets in Crypto Assets (MiCA) in all 27 member states by June. This move will bring stablecoin issuers, exchanges, and wallet providers under the same regulatory umbrella. This will depend on each party getting a MiCA license in any member state.
Each country will tailor the EU-wide norm to its legislation and designate local regulators to ensure compliance.
With the deadline approaching, at least 10 EU nations are completing their local legislative processes, indicating preparation for MiCA. This regulation paves the door for crypto businesses to operate freely across the EU by the end of the year.
Experts remain hopeful about meeting the implementation deadline, anticipating no delays. The focus is now on harmonizing technical requirements within each jurisdiction to ease seamless MiCA integration.
