The Markets in Crypto-assets Regulation (Regulation (EU) No 2023/1114), also known as MiCAR, establishes the first comprehensive, pan-EU regulatory regime for the regulation of cryptoassets, including the regulation of cryptoasset issuance activities and cryptoasset service providers (CASPs). MiCAR entered into force on 29 June 2023, with key provisions set to apply in stages beginning in the summer of 2024. Baker McKenzie’s new MiCAR Compliance Toolkit is a series of guides that set out practical steps…
After several years of intense debate, during its session on 16 May 2023, the European Council finally approved the Regulation on Markets in Crypto-Assets (MiCA). The EU’s first legal framework for crypto now only requires publication in the Official Journal of the European Union, which is expected to happen any time soon. MiCA brings a substantial change to the EU regulatory landscape, creating a harmonized regime in terms of issuance and the provision of services in…
On January 17, 2022, the Spanish Official State Gazette (BOE) published the new Circular 1/2022 of the National Securities Market Commission (CNMV) on the advertising of cryptoassets presented as investments (the Circular). The Circular is aimed at developing the rules, principles and criteria to which cryptoasset advertising will be subject. It defines the types of entities and assets included in its scope and the powers granted to the CNMV, so it can supervise and control…