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Archive » December 2023 » MiCar: risks and opportunities for financial institutions providing crypto-asset services in the Eu

MiCar: risks and opportunities for financial institutions providing crypto-asset services in the Eu

Giuseppe D’Agostino
December 2023 - n. 12
Keywords: MiCar, crypto-asset, istituzioni finanziarie
Jel codes: G20, E26

The new Eu regulation on crypto-asset markets (MiCar), which will be fully implemented as of the end of 2024, offers new opportunities for the financial sector, while entailing new competitive challenges and new strategic and operational risks. Although important steps remain to be taken, MiCar can become a benchmark for other major jurisdictions, thus accelerating the process of international regulatory convergence. The optical illusion of «Fog in the Channel, Continent cut off» is the danger to be avoided, given the unavoidable interdependencies between markets and considering the dynamics of competition between jurisdictional systems.

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