EU begins review of MiCA amendments as law takes full effect

The European Union (EU) has begun a review to amend its Markets in Crypto-Assets (MiCA) regulation as the law comes into full effect, CoinDesk reported. According to Patrick Hansen, Head of EU Policy at Circle, MiCA is the world's first comprehensive crypto regulation and was always considered essentially a first version that would require continuous updates. He noted that while the legislation initially focused on crypto-asset service providers (CASPs) like exchanges, the rapid growth of the stablecoin and tokenization markets has since increased the need for supplementary rules. Hansen added that the European Commission launched a public consultation last May to assess whether MiCA remains suitable in light of these recent market changes.