From Wild West to Regulated Frontier: The Impact of MiCAR on Europe’s Crypto Markets
The "Markets in Crypto-Assets Regulation" (MiCAR) intends to close existing gaps in the EU's financial services legislation by creating a uniform system of standards for the regula-tion of cryptocurrencies within the EU. It was designed, in this context, as part of a more comprehensive regulatory effort (i.e. the EU's Digital Finance Package), which includes fur-ther initiatives such as the Digital Operational Resilience Act (DORA) and the Transfer of Funds Regulation (TFR).