EU’s MiCA Vote Likely Delayed by One Day Without Further Changes

The landmark crypto licensing framework and funds transfer rules will likely be rubber-stamped next week as last-minute upsets now seem unlikely.

AccessTimeIconApr 13, 2023 at 10:35 a.m. UTC
Updated Apr 13, 2023 at 6:25 p.m. UTC
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The European Parliament seems set to rubber-stamp landmark new crypto licensing laws next week, as a document published Wednesday suggesting only a single, expected amendment has been tabled to the law ahead of a crunch final vote.

An official briefed on internal talks told CoinDesk it was likely that a planned vote will be pushed back one day as part of routine reshuffling of the schedule, implying a debate on Wednesday, April 19, and a vote on Thursday. The official asked not to be named as no final decision has been taken.

Lawmakers and European Union member states, who meet in a separate body known as the Council of the EU, already agreed an outline of the law last year, alongside parallel anti-money laundering rules known as the Transfer of Funds Regulation.

The Markets in Crypto Assets regulation, MiCA, requires providers of crypto services like wallets and exchanges to seek a license from national regulators, while the Transfer of Funds regulation obliges identity checks on those making crypto payments.

After months of drafting and translation, and several delays, the deadline for proposing further changes to the MiCA text has now expired, and documents now published by the parliament imply the agreed changes are the only ones that will be put up for discussion. Previously strong support for the law indicating it is likely to pass.

Edited by Sandali Handagama.


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Jack Schickler

Jack Schickler is a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.

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