EU Launches MiCA Regulatory Framework Review Amid Global Crypto Regulation Race

ChainCatcher report: The European Union has officially launched a public consultation and assessment of the Markets in Crypto-Assets Regulation (MiCA), evaluating the framework’s applicability amid the rapid evolution of digital assets. The consultation period is open until August 31 for feedback from industry and the public. This assessment covers MiCA’s core regulatory framework, including key areas such as crypto-asset issuance, asset-referenced tokens (ART), electronic money tokens (EMT), and crypto-asset service providers (CASP). The EU’s consultation follows two pathways: an open public feedback channel and targeted technical consultations for financial institutions, regulators, and industry organizations. The European Commission stated that this initiative is driven by the ongoing global evolution of the digital asset market and increasing competitive pressure from rapid regulatory advancements in the United States and Asia. Meanwhile, MiCA’s transition period ends on July 31, 2026, after which crypto businesses must obtain full regulatory authorization. Recently, Zerohash became the first company to secure both a MiCA CASP license and a Dutch electronic money institution license, while Poland has just enacted its local MiCA implementation law. Coinbase’s Head of European Policy stated that MiCA has established an early global standard but should undergo “targeted optimization” to balance regulatory safety with international competitiveness. The European Commission also supports centralizing oversight of large cross-border crypto institutions under ESMA to strengthen a unified regulatory framework.