Clifford Chance
MiCA – 3 months on: Fireside chat with Peter Kerstens of the European Commission
The Future of Digital Finance 2024
As part of our recent Future of Digital Finance event jointly hosted with GBBC, we were delighted to welcome Peter Kerstens, Advisor to the European Commission to discuss the implementation of the EU's ambitious digital assets legislative framework MiCA – or the Markets in Crypto-assets Regulation - with Boika Deleva, Counsel at Clifford Chance.
MiCA is a comprehensive framework introducing rules on the issuance of cryptoassets including stablecoins, licensing and conduct of business requirements for cryptoasset service providers (CASPs) and as a market abuse framework. Parts of MiCA impacting the issuance, offering and admission to trading of stablecoins entered into force at the end of June 2024, while the remainder, including equivalent provisions for other cryptoassets and the new licensing and conduct requirements for CASPs, will apply from the end of the year.
During the conversation, Peter shares his views on the market's initial response to stablecoin provisions under MiCA taking effect, his advice to cryptoasset service providers ahead of the CASP provisions coming in from the end of the year and the likelihood of MiCA 2.0 coming in and introducing new rules for NFTs, DeFi and the all important equivalence regime.
Speakers:
- Boika Deleva, Counsel, Clifford Chance
- Peter Kerstens, Advisor, European Commission
Peter Kerstens currently advises on Technological Innovation, Digital Transformation and Cybersecurity policy and law at the European Commission’s financial services department. He leads work on the European Commission’s Fintech Action Plan and Digital Finance Strategy and co-chairs the European Commission’s Fintech Taskforce.
Related content:
Read our briefing: EU crypto regulation: MICAR overview for issuers and crypto-asset service providers
Read our briefing: What does MICAR mean for issuing and offering stablecoins and other crypto-assets in the EU?
See more from our Future of Digital Finance event.