As part of a package of regulations on digital finance, in 2020 the European Commission launched work on regulations concerning the crypto-asset market. The Regulation on Markets in Crypto-assets (MiCA Regulation) is to be implemented in 2023.
The European Central Bank (ECB) has come up with an initiative to prepare the financial market to the changes introduced under the MiCA Regulation. The ECB is planning to publish guidelines for banks on options of buying and selling crypto-assets. The guidelines aim to harmonise the approach in EU states to the licensing of crypto-asset activities and services, the analysis of possible risks and threats, and cybersecurity.