MiCA was published in the Official Gazette

MiCA, the landmark crypto law of the EU, has been published in the Official Gazette. This move means that key licensing, stablecoin and anti-money laundering rules are in effect from December 30, 2024.

European Union's Crypto Asset Markets law (MiCA) was published today in the Official Journal of the European Union (OJEU). With this development, time is ticking for important crypto licensing rules to take effect.

The entire law, published alongside the relevant legislation, requires crypto wallet providers to identify their customers when they transfer funds. MiCA offers licenses to crypto companies such as exchanges and wallet providers to operate across the blockchain. In addition, MiCA introduces new governance and financial requirements for stablecoin issuers.

The publication of nearly 200-odd pages of legislation indicates that a bill has officially entered the EU's law book. In legal terms, the two laws will come into effect within 20 days and their provisions will be implemented on 30 December 2024. Some provisions will enter into force a little earlier, on 30 June 2024.

Representing the EU's 27 member states, the Council unanimously approved the MiCA regulation, making the bloc the first major jurisdiction in the world with a crypto licensing regime. It also adopted new anti-money laundering measures regarding crypto fund transfers.
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