Regulation of the cryptoasset market is becoming increasingly more important today, and the Markets in Crypto-Assets Regulation (MiCA) is an initiative of the European Union (EU) to create equal regulatory standards for cryptoassets across the EU. The purpose of this regulation is to ensure financial stability, consumer protection and regulatory transparency in this rapidly growing sector.
The Bank of Lithuania is currently in the most important position in shaping the guidelines of the MiCA regulation, as well as determining how to apply them in the local regulatory environment. The event organized by the Bank of Lithuania on the MiCA regulation is a sign, that Lithuania is actively seeking to contribute to the proper application and development of this European cryptoasset regulation. The event provided a unique opportunity to learn how this new regulatory environment will impact the country’s cryptoasset market.
This event organized by the Bank of Lithuania can be considered even more important for the financial market, because over 10% of current financial market participants would like to provide crypto-asset-related services to their clients after MiCA comes into force. The practical application of the regulation discussed during the event is extremely relevant not only for crypto players, but also for traditional financial market participants.
Lewben Finance and Banking team members – Senior Associate Einoras Vaičiūnas and Associate Rugilė Šerytė, attended the event and shared their insights on most important aspects that we discussed.
Whole article in Lithuanian language available here.
Earlier we wrote about MiCa in these articles: