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Finance

Crypto-assets

A comprehensive framework for crypto-assets and related services to ensure that the Union financial services are fit for the digital age.

What the EU is doing and why

Digitalisation is transforming finance. This can lead to innovative new products, services, applications and business models. Digital finance has a key role to play in shaping a more competitive, sustainable, resilient economy – and a more inclusive, modern, prosperous society.

A crypto-asset is a digital representation of value or a right that can be transferred or stored electronically using distributed ledger technology or similar technology. Crypto assets are a digital innovation that can streamline capital-raising processes, enhance competition and create an innovative and inclusive way of financing for consumers and SMEs. Crypto-assets can also be used as a means of payment and can present opportunities in terms of cheaper, faster and more efficient payments, in particular on a cross-border basis, by limiting intermediaries.

In accordance with the 2020 digital finance strategy, the EU adopted a comprehensive legislative framework that regulates the issuing of crypto assets as well as the services provided in respect of crypto-assets. The Regulation on the Markets in Crypto-Assets (MiCA) covers the crypto-assets and related services and activities that are not covered by other Union legislative acts on financial services.

This dedicated and harmonised framework for markets in crypto-assets will support innovation, will provide for the proportionate treatment of issuers of crypto-assets and crypto asset service providers to scale up their business cross borders, and provide significant benefits in terms of cheaper, faster and safer financial services and asset management.

Policy making timeline

  1. 8 November 2023
    Legislation - Crypto-assets (MiCA)
  2. 29 June 2023
    Legislation - Crypto-assets (MiCA)
  3. 9 June 2023
    Legislation - Crypto-assets (MiCA)

    Publication of the Markets in Crypto-assets Regulation (MiCA) in the Official Journal.

  4. 24 September 2020
    Legislative proposal - Crypto-assets (MiCA) & digital operational resilience (DORA)

    Digital finance package containing

  5. 3 April 2020
    Consultation - Digital finance strategy
  6. February 2020 - July 2022
    Events and call for projects - Digital finance outreach

    The digital finance outreach was a series of events and call for projects focusing on digital finance and digital innovation in the financial sector. The aim of these events is to present, inform and shape the EU digital finance strategy.

  7. 19 December 2019
    Consultation - Crypto-assets & digital operational resilience
  8. 8 March 2018
    Action plan - FinTech

    The Commission adopted the FinTech action plan.

Relevant legislation

Financial crime