On Aug. 23, SLV PRL published a bill re markets in crypto-assets.
SLV PRL announced the publication of a bill on the implementation of the EU regulation Markets in crypto-assets (MiCA), which is currently at first reading.
Follows EU CNCL Jun. 2022 confirmed agreement on crypto-asset reg, see #142192.
Document dated Aug. 23, 2024, was received on Aug. 28 due to a new feed.
MiCA
MiCA regulation provides specific rules for crypto-assets and related services and activities not yet covered by legislative acts of the EU on financial services.
Establishes uniform requirements for public offer and admission to trading on a trading platform for crypto-assets other than asset-backed tokens and e-money tokens, asset-backed tokens and e-money tokens; service provider requirements re crypto-assets.
Primarily protects investors by increasing transparency, establishing a comprehensive framework for issuers and service providers, including regulatory compliance on AML.
Cover issuers of user tokens, tokens, linked to assets, and stable cryptocoins and providers services such as trading sites and wallets where cryptocurrencies are held.
Effectiveness
This law enters into force on the 15th day after its publication in the official gazette.
MiCA regulation comes into force on Dec. 30, 2024, except for provisions on asset-linked tokens and e-money tokens which come into force on Jun. 30, 2024.
Sep. 2024 Reminder
On Sep. 20, 2024, SLV AZN reminded of the European and national framework that will affect sector of crypto-assets via EBA guidelines, EU legal acts and national bill.
Nov. 2024 Law Published
On Nov. 8, 2024, SLV PRL published Act on the Implementation of Regulation (EU) on Cryptocurrency Markets (1669-IX) of Oct. 23, 2024; transition measures are applied.
The law enters into force on the fifteenth day after its publication, on Nov. 23, 2024.
Document dated Nov. 8, 2024, received from SLV PRL on Nov. 12, 2024.
In Nov. 14, SLV ATVP informed of its new powers re crypto-assets, see #233663.
Regulators
SLV AZN; SLV PRL
Entity Types
Auditor; B/D; Bank; CNSM; IA; Ins; Inv Co
Reference
OG 95/24, 11/8/2024; Law 1669-IX, 10/23/2024; PR, 9/20/2024; Bill 1669-IX, 8/23/2024; MiCA Reg 2023/1114; Fintech
