The crypto-asset market has staged a remarkable resurgence recently, with Bitcoin’s value and the crypto market cap soaring amidst a supportive new US administration, expectations of lighter regulation, and growing mainstream acceptability.
In this context, the application of the EU’s Markets in Crypto-Assets Regulation (MiCAR) arrives at a pivotal moment, enabling crypto-asset operators to tap the entire EU market on the basis of a single authorisation.
The article unpacks and explains the rules governing the offering in the EU of various classes of crypto-assets (such as stablecoins and utility tokens) and the authorization and operating conditions for Crypto-Asset Service Providers (CASPs), including wallet providers, brokers, exchanges, and platforms. It places particular emphasis on the process for obtaining CASP authorization in Cyprus, detailing the requirements for financial entities under the streamlined notification route and for other entities via the application route.
The full article can be viewed on Cyprus Mail, Lexology and Mondaq.
For more information, please reach out to Stefanos Sofroniou.
