EU Consults on MiCA 2.0 Amid Calls for Competitive Crypto Regulation

The European Commission has initiated a public consultation on proposed updates to the EU's Markets in Crypto-Assets (MiCA) framework, signaling that Brussels plans to refine how its landmark crypto rules address newer parts of the market.

According to Katie Harries, director and head of policy for Europe at Coinbase, refinements could help keep the EU's framework 'competitive' as digital-asset regulation moves into a second phase-particularly for decentralized finance (DeFi), stablecoins, and tokenization-related activity.

The consultation-initiated in May-comes as full application and enforcement of MiCA began on December 30, 2024, with the first licensing steps rolling out in the early months of 2025. Some in the industry have already started calling the expected revision 'MiCA 2.0,' with regulators aiming to tackle gaps left by the initial law.

The consultation is structured to adjust MiCA's scope and definitions, tighten rules for certain token categories, and broaden coverage to topics not addressed in MiCA 1.0.