Akin Gump Article on EU Crypto Regulations Published by Law360
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“EU Regulation Aims To Bring Confidence To Crypto Market,” an article by Akin Gump London-based disputes partner Justin Williams and antitrust partner Davina Garrod, counsel Jenny Arlington and associate Alexander Armytage, has been published by Law360.
The authors write that the Markets in Crypto Assets Regulation, or MiCA, approved by the European Council of the EU was “one of the first attempts globally at comprehensive regulation of cryptocurrency markets.”
They note, “[T]he EU is a pioneer in digital regulation, and the breadth of MiCA means that it will have a significant global impact.” The article explains what MiCA is and what it is for and that “the regulation applies to natural and legal persons and other undertakings that are engaged in the issuance, offer to the public and admission to trading of crypto-assets or that provide services related to crypto-assets in the EU.”
The authors explain that, while MiCA is not yet in force, it is a good time to start preparing. They suggest that any person or entity interested in entering the crypto-asset service provider, or CASP, space “would be well advised to set up according to the requirements of MiCA, not least because many of the requirements are good practice, but mostly so as to be compliant by the time the regulation comes into force.”
Law360 subscribers can read the full article here.
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