MiCA's path from the 2022 compromise text to 2024 application

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Archive note: This article has been corrected to distinguish negotiation, entry into force and application dates.

EU institutions reached a provisional agreement on the Markets in Crypto-Assets Regulation in June 2022. The legislative process continued after that compromise. MiCA entered into force in June 2023.

Its stablecoin-related titles applied from 30 June 2024, while most remaining provisions applied from 30 December 2024. A provisional political agreement was therefore not the same as an immediately applicable law.

Primary sources: Council provisional agreement; MiCA Article 149.

This policy summary is not legal advice.

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