MiCA Papers
Friday, January 20, 2023

Plenary vote in April 2023?

We anticipate that the EU Parliament will vote on the MiCA Regulation draft text in April.

Following the provisional agreement reached on the MiCA Regulation text in June 2022 and the member state endorsement of it in October 2022, we expect a final vote to become reality in April. It was first postponed to February, but the forecast now indicates April.

With that timeline, we are likely to see a formal approval by the Council of the EU in May, meaning that the regulation will formally enter into force on or about June 2023.

Considering that we are quite used to postponements in the EU financial regulatory landscape in the past, there are obviously a lot of uncertainties as to when the different parts of the legislation will start to apply.

From the draft text, it is anticipated that the rules covering asset-referenced and e-money tokens will start applying 12 months after the regulation’s entry into effect, while the rest will transition in another 6 months away from that.

We have updated our Timeline accordingly.

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