On 5 October 2022, the final compromise text of the Markets in Crypto-Assets Regulation (MiCA) was published. In this context, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a news item stating that DNB welcomes this new regulation of the European crypto markets. According to DNB, uniform rules for crypto markets are important for investors in crypto assets and the stability and integrity of the crypto ecosystem.

As MiCA is likely to take effect in 2024, DNB calls on market parties to get informed about MiCA. Market parties have the opportunity to provide input on the implementation of MiCA on various stages during the implementation process. The European Supervisory Authorities will soon proceed with developing draft regulatory technical standards under MiCA, for which market parties will be consulted. DNB will continue to provide market parties with further information about the next steps and the transition process, where necessary, in cooperation with the Dutch Authority for Financial Markets (Autoriteit Financiële Markten).

DNB notes that rapid developments in crypto markets require crypto regulations to be evaluated on a continuous basis. Where necessary, these should be tightened and/or expanded. DNB indicates that further regulations in the field of Decentralised Finance are inevitable. By example, DNB will shortly touch on the proposed Transfer of Funds Regulation (TFR), which will be expanded with additional disclosure rules for crypto services providers. These disclosure rules provide that crypto service providers should include information about the originator and the beneficiary in every crypto asset transaction in order to make criminal money flows traceable. These requirements will also take effect in 2024.