On 9 June 2023, the Market in Crypto Assets Regulation (MiCA) was published in the Official Journal of the European Union as Regulation (EU) 2023/1114. The updated transfer of funds regulation, which will cover cryptossets, was published as Regulation (EU) 2023/1113.
MiCA will enter into force on 29 June 2023 and will apply from 30 December 2024. However, the regulation will apply to e-money tokens and asset-referenced tokens from 30 June 2024.
The new transfer of funds regulation will also enter into force on 29 June 2023 and apply from 30 December 2024.