The Minister for Finance has signed the Statutory Instrument which gives effect to EU regulation on Markets in Crypto-Assets Regulation (MiCAR).
Statutory Instrument No 607 of 2024, European Union (Markets in Crypto-Assets) Regulations 2024 – 2024/01986 designates the Central Bank of Ireland (CBI) as the National Competent Authority, as well as outlining the administrative penalties and measures for Regulated and non-Regulated Financial Service Providers.
The instrument specifies the duration of the transition period for firms that provided crypto services before 30 December 2024.
The Operational Date/Commencement date of the SI is 8 November 2024 and the regulation is to be published in Iris Oifiúigil Tuesday 19 November.
“Blockchain Ireland welcomes this progress as it provides clarity for the market and a clear path forward for those (e.g. CASPs) seeking authorisation under the regulations. We look forward to working with our members on an authorisation path and wish them well in their endeavours,” said Blockchain Ireland chair, Lory Kehoe.
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