European Commission seeks feedback on the functioning of EU crypto-assets rules

Just two years after implementation, the European Commission is consulting on whether its regulatory framework on crypto‑assets is still fit for purpose.

The European Commission launched a consultation to gather feedback from stakeholders and the wider public on the functioning of the EU’s regulatory framework on crypto‑assets, the Markets in Crypto‑Assets Regulation (MiCA).

As crypto‑asset markets and the broader policy landscape continue to expand, the Commission is assessing whether the current framework remains fit for purpose.

Implemented in 2024, MiCA established a harmonised EU framework for crypto‑assets and related services, covering crypto‑assets, asset‑referenced tokens and e‑money tokens (stablecoins), their issuers, and crypto‑asset service providers.

Since the MiCA Regulation was developed, digital asset markets have continued to evolve, with the global policy and regulatory landscape also changing significantly. The Commission is therefore assessing whether the EU framework needs to be updated in light of market and international developments.

The consultation seeks feedback on the main building blocks of MiCA. It includes both a public consultation for individuals and a targeted consultation covering more technical and legal questions for stakeholders such as digital asset issuers and service providers, financial institutions, technology providers, academia, think tanks, industry bodies, consumer and public interest organisations, and EU public authorities.

The consultation is open until 31 August and the all feedback gathered will be used to inform the Commission’s future policy work on digital assets.