EU Launches MiCA Review Consultation — Is the Crypto Framework Still Fit for Purpose?

The European Commission has opened a formal consultation on whether MiCA, the EU's landmark crypto regulatory framework enacted in 2023, remains adequate as digital asset markets and global regulatory approaches continue to shift. The consultation runs until August 31 and invites responses from crypto firms, financial institutions, technology providers, academics, and consumer groups.

MiCA established the EU's first harmonised regime covering crypto-assets, stablecoins, issuers, and service providers operating within the bloc. Stablecoin rules took effect in June 2024, with the full framework becoming applicable in December 2024 — meaning the Commission is already reassessing a regime that has been fully live for less than a year.

The review includes both a public questionnaire and a more technical targeted consultation focused on legal and operational aspects of the regime. The…