A provisional agreement was reached between the Council presidency and the European Parliament on the Markets in Crypto-Assets Regulation (MiCA). The proposal includes obligations on cryptoasset issuers as well as service providers. The aim of this new framework is to protect investors and preserve financial stability, while also fostering innovation and the attractiveness of the crypto-asset sector. This regime provides the first regulatory framework at EU level. Under this new framework, service providers have to follow strict requirements to protect consumers and liability is imposed in case they lose investors’ cryptoassets. There is also the classification of tokens that currently do not fall under existing EU financial services legislation. MiCA includes information on environmental and climate footprint as well, with the European Commission required to provide a report on the environmental impact of crypto-assets and the introduction of mandatory minimum sustainability standards for consensus mechanisms after two years.