The European Commission has opened a formal consultation on whether MiCA, the bloc's landmark crypto-assets framework, remains fit for purpose as digital asset markets evolve, inviting feedback from individuals and industry participants through Aug. 31.
The review covers MiCA's main building blocks, including rules for crypto-asset issuers, asset-referenced tokens, e-money tokens, and crypto-asset service providers, a Wednesday notice said.
Specifically, two tracks are running in parallel. First is a public consultation open to individuals, and secondly, a targeted consultation for more technical and legal responses from firms, financial institutions, regulators, and industry bodies.
Global regulatory race
The Commission cited continued evolution in digital asset markets and a significantly changed global regulatory landscape as the basis for reassessing the framework.
