Abstract

The Markets in Crypto Assets Regulation (MiCA) will become directly applicable in the European Union (EU) as of 30 June and 30 December 2024, respectively, and will provide a harmonized legal framework for the regulation of crypto-assets in all Member States of the European Union. This will fundamentally change the regulatory landscape for the European crypto sector. In this article, the authors consider the purpose and scope of MiCA and highlight important requirements introduced by MiCA. The authors explore the different types of crypto-assets defined and regulated under MiCA and discuss the important topic of asset segregation. In doing so, the authors also elaborate on property law aspects connected to these topics, including custody of crypto-assets and client funds. The article aims to give readers a good overview of what to expect under MiCA and when market participants within the crypto sector start falling under MiCA’s scope.