MiCA in force and fully applicable: what banks need to know

The Markets in Crypto-Assets Regulation (MiCA - Regulation (EU) - 2023/1114) is fully applicable across the EU. For banks, this marks a pivotal shift in how crypto-assets are regulated. While banks are exempt from separate CASP (crypto-asset service providers) licensing, they must now comply with a comprehensive set of conduct, governance, and disclosure obligations. With ESMA finalizing key guidelines applicable in June 2025, the regulatory landscape is clearer, but also more demanding.