The European Commission has initiated a public consultation to evaluate the performance of MiCA, the EU's comprehensive cryptocurrency regulatory framework, in response to rapidly evolving market conditions. The review seeks feedback from various stakeholders, including crypto firms, banks, technology providers, academics, and consumer groups, until August 31.
Launched on May 20, the consultation includes both a public questionnaire and a technical review, aiming to gather input on how MiCA has been implemented across all 27 EU member states. The framework was fully enforced in December 2024, marking the first unified regulatory approach for cryptocurrency markets within the bloc.
Stablecoins remain a key area of focus during this assessment, with nearly 30 fiat-backed tokens receiving approval under MiCA. However, no asset-referenced tokens have cleared approval yet, raising concerns about regulatory barriers and differences in treatment between global exchanges and smaller startups.