EU to Crack Down on Non-Compliant Crypto Firms After MiCA

Enforcement actions against offshore crypto companies that are not compliant with incoming European Union regulations will increase “drastically” once the new rules come into force, said Jan Ceyssens, head of digital finance at the European Commission.

• The European Parliament struck a provisional agreement on its Markets in Cryptoassets (MiCA) directive in June. The EU-wide legislation is expected to be finalized in a vote in February, and take effect in mid-2024
  • “We already have today a number of EU authorities and member states which have been taking action against third country operators, and we certainly do expect this to increase quite ...