MiCA regulation for EU licensed Crypto Companies.

[semas2]

The new regulation states that transactions of €1000 or more must be verified if it is a c2b or b2c transaction.

I'm now unsure what the situation is with the regulations for crypto companies. Previously, laws were implemented at the local level depending on the jurisdiction.

MiCA now claims that it will be uniform throughout the EU and requires a minimum share capital of 50k and up to 150k EURO for a company.

maintaining minimum share capital (150kEUR for trading platforms, 125k EUR for custodians and exchanges, and 50kEUR for all the others),

Does this mean that in order to establish a crypto company a much higher share capital is necessary? Does this also apply to existing companies too?

 

[Sols]

The term "crypto company" has no clear meaning, so it depends on what your company actually does.

It's going to come down to how each EU/EEA member state writes its laws. But based on similar events in the past, the rules will apply to all companies but older ones can expect a grace period of one to a couple of years.

 

[walako]

Hi all!
I am more or less familiar with MiCA, ahtough I do not now how to apply it to my client's situation

It seems there is a company in Estonia with associated crypto assets, even though these assets are not officially accounted for on the company's balance sheet. Those tokens exist independently of the EU entity, traded on exchanges etc. It appears that MiCA regulations should apply to such crypto assets, especially considering their significant volume $ in terms of monetary value.

What is the approach to comply with the regulations?
Thank you!