MiCAR Transition Period
MiCAR (Regulation (EU) 2023/1114) · Article 143
Definition
The transitional arrangement under Article 143 of MiCAR (Regulation (EU) 2023/1114) that allows crypto-asset service providers already operating under national law before 30 December 2024 to continue providing services for a maximum of 18 months — until 1 July 2026 — while they apply for MiCAR authorisation. The exact duration may vary by Member State, as national legislators may set shorter transitional periods. After the transition period expires, entities must hold a MiCAR CASP authorisation or fall within an exemption (e.g., credit institutions, MiFID investment firms) to provide crypto-asset services in the EU.
Related Terms
Crypto-Asset Service Provider — A legal person or undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is authorised to provide crypto-asset services under MiCAR.
ARTAsset-Referenced Token — A type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies.
EMTE-Money Token — A type of crypto-asset that purports to maintain a stable value by referencing the value of one official currency.
NCANational Competent Authority — The national authority designated by each EU Member State to supervise financial entities and enforce EU financial regulation.
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