On 23 September 2020, Siân Jones, Ernest Lima and Ana James from XReg Consulting presented the first webinar covering the leaked draft of the European Commission’s proposed Regulation for Markets in Crypto-assets (MiCA). A day later the European Commission adopted its Digital Finance package and published the new EU cryptoasset law.
On Friday 11 September 2020 the EU’s draft proposed EU Markets in Crypto-assets Regulation (MiCA) was leaked. This Regulation will have a profound impact on all cryptoasset activities and issuers in the EEA and the world.
Significant differences in the implementation of EU AML/CTF Directives across Member States have enabled regulatory arbitrage and hindered both international supervision and cooperation. In response to these issues, the EU Action Plan proposes to achieve the harmonised and effective implementation of the EU AML/CTF framework through six primary initiatives.
On 1 May 2020, amendments to Japanese legislation came into force to enhance the country’s crypto regulatory framework.