European Union (MiCA) — crypto regulation

Status: legal · Last reviewed 2026-11-05

The Markets in Crypto-Assets Regulation (MiCA) has applied in full since 30 December 2024, and the last national transitional (grandfathering) periods ended on 1 July 2026. ESMA told unauthorised CASPs to stop onboarding EU clients and wind down in an orderly way. ESMA's interim register listed more than 320 authorised CASPs by the end of July 2026. A MiCA review is under way: the Commission consulted from May 2026, and ESMA, the EBA and national authorities have called for rules on DeFi access points, staking and lending, and tighter treatment of third-country multi-issuer stablecoins. Under the Market Integration and Supervision Package, the Council (Oct 2026) would move only the largest cross-border CASPs to direct ESMA supervision, and the Parliament's position is still pending. Digital euro trilogues began in July 2026. The AML Regulation bans CASPs from keeping anonymous accounts or accounts allowing anonymity-enhancing coins from July 2027.

Legislation