Spain will implement Mica six months before the EU period expires
Spain will implement Mica six months before the EU period expires
- Spain, the Mica Act shifts to December 2025.
- Spain wants to increase legal certainty and the protection of Spanish crypto investors.
- leading global stock exchanges have received regulatory green light in Spain.
Spain will take the leadership in the implementation of the comprehensive cryptocurrency regulatory framework of the European Union, the Market in Crypto-Assets (Mica), before the general period for all 27 EU member states takes place.
This brave step aims to create legal certainty and better protection for Spanish investors who are involved in cryptocurrencies.
Spain will implement Mica until December 2025
The Spanish Ministry of Economics and Digital Transformation 2025 will come into force at the national level. This is six months earlier than the general period of the EU in July 2026.
The accelerated schedule is shortened the transition period for Spain from 36 months to just 18 months.
The decision was made after a meeting between Spain's first vice president Nadia Calviño and the President of the European Securities and Market Authority Verena Ross. The aim of Spain is to accelerate the implementation of Mica and ensure that Spanish investors enjoy more security and regulatory supervision in the crypto sector.
Developments in the crypto exchange in Spain
in parallel to this regulatory step, several international cryptocurrency exchanges in Spain have made considerable progress.
Coinbase received a registration from the Spanish Central Bank to comply with the regulations to combat money laundering and thus added an additional level of control and security for its business.
octopus also received the registration of a provider of virtual assets, which underlines the commitment of the stock exchange for compliance with legal regulations. Spain's commitment to guarantee robust AML and investor protection measures in the cryptocurrency area show these measures.
In addition, the Spanish Central Bank Banco de España, together with other European financial institutions
The central bank has expressed its conviction that the digitization of business and society requires a digital currency to fully exploit its advantages. This is in accordance with the general trend that central banks use digital currencies worldwide to remain relevant and efficient in an increasingly digital financial landscape.
Source: Coinlist.me