Policy Reference

EU Crypto Regulation

Explore EU crypto laws, including MiCA rules, exchange licensing, stablecoin regulation, taxes, AML compliance, and digital asset oversight.

European Securities and Markets Authority (ESMA)
Status
Topic
Law Type
Asset Class

Law database

31 law profiles

Law / Bill
Draft Intro Committee Passed Enacted In force
BaFin ICO and Crypto Token Classification Guidance WA 11-QB 4100-2017/0010; WA 51-Wp 7100-2019/0011; IF 1-AZB 1505-2019/0003 Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

BaFin advisory letters on ICO token classification and prospectus and authorisation requirements for crypto-token issuance

BaFin guidance explains how Germany classifies ICO and crypto tokens case by case under securities, prospectus, investment and authorisation rules, focusing on rights, transferability and negotiability.

Last action: Dec 30, 2024 - MiCAR main application date

Profile Initial Coin Offerings: advisory letter on token classification
EU Regulation (EU) 2023/1113 Regulation (EU) 2023/1113; CELEX 32023R1113 In force Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets and amending Directive (EU) 2015/849

EU Regulation 2023/1113 recasts the Transfer of Funds Regulation and applies travel-rule information requirements to transfers of funds and certain crypto-assets.

Last action: Dec 30, 2024 - Regulation became applicable and replaced Regulation (EU) 2015/847.

Next: Jun 30, 2027 - Application and enforcement report

Profile EUR-Lex Regulation (EU) 2023/1113
EU Transfer of Funds Regulation (TFR) Regulation (EU) 2023/1113 In force Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets and amending Directive (EU) 2015/849

EU Travel Rule regulation requiring payer/payee and originator/beneficiary information to accompany fund and crypto-asset transfers, including CASP obligations for self-hosted addresses. Applies from Dec. 30, 2024.

Last action: Dec 30, 2024 - Main application date

Next: Dec 31, 2026 - Sanctions monitoring report

Profile Regulation (EU) 2023/1113 official text
France PACTE Initial Coin Offering Visa Regime Loi n° 2019-486, art. 85; former CMF L.552-1–L.552-7 Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

Loi n° 2019-486 du 22 mai 2019 relative à la croissance et la transformation des entreprises — régime de visa optionnel des offres au public de jetons

France’s PACTE Law created an optional AMF visa for public offerings of utility tokens, requiring issuer, disclosure, safeguarding and AML controls. The visa regime was replaced by MiCA-era rules from Oct. 18, 2024.

Last action: Dec 30, 2024 - MiCA Offer Framework Applies

Profile PACTE Law Article 85
Germany Banking Act Qualified Crypto Custody Business Regime KWG § 1(1a) s. 2 no. 6; §§ 26b, 32, 46i, 65a Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

Gesetz über das Kreditwesen (Kreditwesengesetz – KWG), qualified crypto custody business provisions

German Banking Act regime for BaFin-supervised qualified crypto custody of cryptographic instruments and related private keys, with segregation and insolvency allocation rules after FinmadiG.

Last action: Dec 30, 2024 - Qualified custody wording operative

Profile Kreditwesengesetz (KWG), consolidated text
MiCA: EU Markets in Crypto-Assets Regulation Regulation (EU) 2023/1114 In force Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets

EU MiCA creates a harmonized framework for crypto-asset issuance, stablecoin issuers, CASPs, disclosures, market integrity, and supervision. Fully applicable since Dec. 30, 2024, with CASP transition ending by July 1, 2026.

Last action: Dec 30, 2024 - General application begins

Next: Aug 31, 2026 - MiCA review consultation deadline

Profile Regulation (EU) 2023/1114 (MiCA) Milestone source
EU AML Package: Regulation (EU) 2024/1624 and Directive (EU) 2024/1640 Regulation (EU) 2024/1624; Directive (EU) 2024/1640 In force Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Current

Regulation (EU) 2024/1624 and Directive (EU) 2024/1640 on AML/CFT prevention and Member State mechanisms

EU AML/CFT package pairing directly applicable AMLR rules for obliged entities, including CASPs, with AMLD6 national mechanisms for supervision, FIUs and beneficial ownership registers.

Last action: Jul 9, 2024 - Entry into force

Next: Jul 10, 2027 - Main AMLR application

Profile Regulation (EU) 2024/1624 — AMLR
Inactive 3
AMF Digital Asset Service Provider Registration and Licensing Regime Loi n° 2019-486; former CMF arts. L54-10-1–L54-10-5 Repealed Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Inactive

Loi n° 2019-486 du 22 mai 2019; former Monetary and Financial Code DASP/PSAN registration and optional licensing regime

France’s former AMF/ACPR framework for digital asset service providers required registration for core services and offered optional licensing. It was repealed July 1, 2026 as MiCA CASP authorization replaced it.

Last action: Jul 1, 2026 - DASP transition ends

Profile PACTE Law Article 86
AMF MiCA Crypto-Asset Service Provider Transition Regime MiCA Art. 143; Law 2023-171 Art. 8 III; Ord. 2024-936 Expired Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Inactive

French transitional period for Digital Asset Service Providers to continue crypto-asset services without MiCA CASP authorisation until 1 July 2026

Temporary French MiCA bridge allowing eligible pre-30 Dec 2024 DASPs/PSANs to keep providing crypto-asset services until 1 Jul 2026 or earlier MiCA authorisation/refusal. The transition has expired; France now relies on MiCA CASP authorisation or Article 60 notification.

Last action: Jul 1, 2026 - Transition expired

Profile AMF reminder on end of MiCA transitional period
PACTE Digital Asset Service Provider Regime Loi n° 2019-486, art. 86; CMF L.54-10-1 to L.54-10-6 Repealed Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed In force In force: Inactive

LOI n° 2019-486 du 22 mai 2019 relative à la croissance et la transformation des entreprises

France’s PACTE Law created the AMF DASP/PSAN regime for custody, exchange, trading-platform and related digital asset services. It is now repealed for authorisation purposes and replaced by MiCA CASP authorisation from July 1, 2026.

Last action: Jul 1, 2026 - PACTE DASP transition ends

Profile PACTE Law Article 86

Information is for general purposes only and not legal advice. See full disclaimer.