Bitkom on Finalization of the Markets in Crypto-Assets Regulation (MiCA)
Bitkom supports the European Union’s efforts in harmonizing the market for crypto-asset issuers and service providers and has supported the process from the beginning. Yet, during the final steps of the legislative process, concerns remain around the clarity of legal definitions, the potential for regulatory overlaps as well as issues surrounding the redemption of asset-referenced token (ART) and e-money token (EMT). Bitkom also wants to highlight that the important topic of sustainability/ESG and AML should be treated under their respective frameworks. Further, Bitkom sees need to further clarify the authorization regimes for licensed service providers under the Payment Services Directive (PSD2) and MiFIDII.