Spain to Implement MiCA Crypto Rules in 2025
31 Oct, 2023 ● Crypto News
According to the Spanish Ministry of Economy and Digital Transformation, the Markets in Crypto-Assets (MiCA) Act, the first comprehensive European Union crypto framework, will go into effect on a national level in December 2025.
A press release issued by the Ministry on October 26 revealed that Spain's first vice president, Nadia Calvio, met with the president of the European Securities and Markets Authority, Verena Ross, to discuss the government's intention to move forward with MiCA implementation.
The general deadline for all 27 EU member states to implement MiCA is July 2026.
It includes the 36-month transition period granted to member states beginning on the date of the MiCA's publication in the Official Journal of the European Union in June 2023.
Spain wishes to reduce the transition period to 18 months. According to the announcement:
“[This] will provide legal certainty and greater protection for Spanish investors in this type of assets.”
Spain's central bank, Banco de Espaa, publicly joined a chorus of European banking institutions this month in preparing their customers for the potential benefits of a digital euro.
According to the bank, physical cash "does not allow to exploit all of the advantages offered by the growing digitalization of the economy and society."
Sources:
https://cointelegraph.com/news/spain-implement-mica-six-months-before-july-2026-deadline
