Europe Markets Regulator Warns Bloc to Prepare for Crypto Rules

The European Union’s markets watchdog has called for crypto companies and national regulators to start preparing to meet the bloc’s new industry rules, rather than rely on a lengthy transitional phase.

The European Securities and Markets Authority said on Tuesday that digital asset firms should apply for authorization with national regulators under the EU’s incoming Markets in Cryptoassets (MiCA) regime as soon as possible and talk to watchdogs about how the new rules will govern their current activities.

Approved by EU lawmakers earlier this year, MiCA is a wide-ranging package of EU measures governing digital finance that will require crypto ...