In Europe, the major and recently enacted legislation 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 since December 30, 2024. The rules regarding 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, particularly governing:
* The public offering and admission to trading of tokens.
* The provision of services on crypto-assets by 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 implementation 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 competencies of the Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) regarding the approval and supervision of sector actors.
* Adapt the applicable framework for canvassing, advertising, and commercial influence for crypto-assets.
Thus, the MiCA regulation is the recently voted and implemented European law concerning crypto-assets, and France has taken steps to integrate it into its national law.
