In Europe, the major and recently enacted bill regarding crypto is the MiCA regulation (Markets in Crypto-Assets).
Published in the Official Journal of the European Union on June 9, 2023, most of its provisions are applicable from December 30, 2024. The rules concerning stablecoins will even come into effect earlier, on June 30, 2024.
This regulation aims to establish a harmonized regulatory framework at the European level for crypto-assets, specifically governing:
* The public offering and admission to trading of tokens.
* The provision of services on crypto-assets by service providers (PSAN).
* The prevention of market abuse on crypto-assets.
In France, an ordinance dated October 15, 2024, was issued to adapt French law to the entry into force of the MiCA regulation. This ordinance aims in particular to:
* Adapt the current national regime of PSAN until its gradual phasing out in favor of the MiCA regime by July 1, 2026.
* Clarify the powers of the Financial Markets Authority (AMF) and the Prudential Control and Resolution Authority (ACPR) regarding the licensing and supervision of market participants.
* Adapt the applicable framework regarding canvassing, advertising, and commercial influence for crypto-assets.
Thus, the MiCA regulation is the recently voted and implemented European law regarding crypto-assets, and France has taken measures to integrate it into its national law.
