On 16 May 2023, the Council of the EU issued a press release announcing that it had adopted the Regulation on markets in crypto-assets (MiCA). The Council adopted its negotiating mandate on MiCA on 24 November 2021. Trilogues between the co-legislators started on 31 March 2022 and ended in a provisional agreement reached on 30 June 2022. The formal adoption of the Regulation on 16 May 2023 is the final step in the legislative process. The Regulation enters into force on the twentieth day following that of its publication in the Official Journal of the EU. It applies from 18 months after the date of entry into force.