MyComplianceOffice Blog

The Markets in Crypto-Assets Regulation (MiCA) institutes uniform regulations for crypto-assets across the EU that are not currently regulated by existing financial services legislation.  With the Application of Rules for asset-referenced and e-money tokens expected in June of 2024, the countdown is on. 

The European Market Abuse Regulations (MAR) have been in effect since July of 2016. Recent priorities published by regulators in the UK and across Europe demonstrate that MAR is hardly old news, remaining a consistent priority since its inception. And regulatory enforcement shows that even six years in, firms are still struggling to stay compliant with MAR regulations and the flow of material nonpublic information (MNPI) across their organizations.

Europe has been at the forefront regarding crypto asset regulation with its recently approved Markets in Crypto Assets (MiCA) legislation, which goes into effect in phases starting in 2024. It represents the most significant attempt by global governments to regulate the growing market for digital assets.  

Last week, February 10, the European Commission announced a proposal to delay the MiFID market reforms for one year, setting the new deadline for January 2018. The European Commission is Europe’s top regulator and the executive arm of the European Union.

The Market Abuse Directive II (MAD II) goes into effect this year. The new regulation will require firms to enhance employee supervision and take closer look at their organizational compliance practices. For those unfamiliar, MyComplianceOffice has compiled five fast facts to serve as an introduction.