On 9 June 2023, the EU published Regulation 2023/1114/EU (Markets in Crypto-assets Regulation – MiCA) and Regulation 2023/1113/EU (Transfer of Funds Regulation – TFR) in the Official Journal of the European Union. Both Regulations form part of the EU’s ambition to create a uniform legal framework for crypto-assets markets in the EU. MiCA introduces a custom-built and harmonised legislative framework for crypto-assets and related activities and services. It applies to natural and legal persons and other undertakings that are engaged in the issuance, public offering, and admission to trading of crypto-assets or that provide services related to crypto-assets in the EU. In support of this, the TFR is part of the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules and targets also transfers of crypto assets. It introduces a Union-wide normative regime for the collection and sharing of customer information for transactions in crypto-assets applying to all obliged entities as defined in MiCA.
