MiCA requires crypto firms such as wallet providers and exchanges to seek a license to operate across the bloc, and stablecoin issuers to hold suitable reserves. Its main features were politically agreed in June, but it’s been subject to administrative hold-ups. Major provisions take effect just over a year after it’s published in the bloc’s official journal, which is now likely in June or July.
Source: https://www.coindesk.com/policy/2023/05/16/eus-crypto-legal-framework-inches-towards-law-with-finance-ministers-sign-off/?utm_medium=referral&utm_source=rss&utm_campaign=headlines