Spanish Ministry of Economy and Digital Transformation to Implement MiCA Act Ahead of Schedule
The Spanish Ministry of Economy and Digital Transformation has announced that the Markets in Crypto-Assets (MiCA) Act will be enforced nationwide in December 2025, six months earlier than planned. The European Securities and Market Authority had set a deadline of July 2026 for the implementation of MiCA, but Spain has decided to bring it forward. This move comes after the first vice president of Spain, Nadia Calviño, met with the president of the European Securities and Market Authority, Verena Ross, to discuss MiCA regulations. By implementing MiCA earlier, the Spanish National Securities Market Commission (CNMV) can begin supervision sooner, providing legal security and enhanced protection for Spanish investors who use crypto-assets.
Spain’s Focus on Regulation
Coinbase recently obtained VASP registration from the Bank of Spain, joining other major players with local licenses. However, the MiCA Regulation aims to be the first global standard that comprehensively regulates the crypto-assets market, covering guidelines for issuers and service providers. Exchanges that have already registered as VASPs should already fulfill most, if not all, of the obligations outlined in MiCA.
Hot Take: Accelerating Crypto Regulations in Spain
The Spanish government’s decision to implement the MiCA Act ahead of schedule demonstrates its commitment to regulating and protecting investors in the crypto-assets market. By bringing forward the enforcement date, Spain aims to provide legal security and greater protection for individuals using these types of assets. This proactive approach aligns with the international trend towards comprehensive regulation in the cryptocurrency industry. As more countries adopt similar measures, it is likely that exchanges and service providers will need to comply with global standards such as MiCA. This move by Spain sets a precedent for other nations to prioritize the regulation of crypto-assets, ultimately promoting a safer and more secure environment for investors.
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