Spain’s Ministry of Economy and Digital Transformation has announced that the European Union’s first comprehensive crypto framework, the Markets in Crypto-Assets Act (MiCA), will come into force nationally in December 2025.
As is clear from the statement issued through the Ministry on October 26, Spain’s First Vice-President, Nadia Calviño, met with the President of the European Securities and Markets Authority, Verena Ross, to discuss the Government’s goal of moving forward with the implementation of Mica.
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The general deadline for MiCA implementation for all 27 EU Member States is July 2026. This includes the 36-month transition era granted to Member States from the date of publication of MiCA in the Official Journal of the European Union in June. 2023. Spain will shorten this transition period to 18 months. According to the press release:
Meanwhile, major foreign crypto exchanges in Spain have been granted local licenses. In September, Coinbase received an anti-money laundering compliance registration from Spain’s central bank, and Kraken received registration from a virtual asset service provider. Previously, in June, the same regulatory approval was granted to Crypto. com.
This month, the Bank of Spain, Spain’s central bank, publicly joined the refrain of European banking establishments preparing their consumers for the potential benefits of a virtual euro. The bank said the physical format of the money “enables all the benefits of the expanding virtualization of the economy and society. “
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