Derived from Bijié Wǎng, the EU MiCAR regulatory framework will be implemented in phases starting in 2024, introducing unified rules for crypto assets. Stablecoins will be subject to strict regulations, while other assets will focus on disclosure requirements. Crypto service providers must obtain a single license to operate across EU member states, with a transition period until 2026. MiCAR will be complemented by DAC8 in 2026, requiring service providers to report transaction data for tax authorities to share, creating a transparent and traceable regulatory and tax system.
EU MiCAR Regulatory Framework to Take Effect in 2024
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