December in Poland and at our law firm was marked by the presidential veto of the Crypto Assets Market Act.
Information has appeared on the website of the Government Legislative Centre regarding work on the draft act concerning the crypto-asset market.
Regulation (EU) 2023/1114 of the European Parliament and of the Council of May 31, 2023 on crypto-asset markets and amending Regulations (EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937, popularly known as the MiCA Regulation (hereinafter “MiCA” or “Regulation”), is the EU’s response to the dynamic development of the crypto-asset market. The Regulation, in principle, will be fully enforceable from December 30, 2024. In principle, because the rules for e-money tokens (EMTs, or “e-money tokens”) and asset-referenced tokens (ARTs, or “asset-referenced tokens”) will be applied earlier, from June 30, 2024, just over three months from now. In this article, we will focus on EMTs.