The Markets in Crypto Assets Regulation (MiCAR) is the first package of European legislation that was enacted to regulate cryptocurrencies and related services. The EU saw the need for specific rules addressing market abuse in crypto-assets to “ensure confidence (âŚ) and integrity of those markets.” This is justified by the fact that many âissuers of crypto-assets and crypto-asset service providers are very often SMEsâ. Applying the full scope of Regulation (EU) No 596/2014 on market…
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 McKenzieâs new MiCAR Compliance Toolkit is a series of guides that set out practical steps…