AFM update on MiCA implementation
November 08, 2023
On 24 October 2023, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published an update on the implementation of the Markets in Crypto-Assets Regulation (Regulation (EU) 2023/114, MiCA). The AFM refers to the recent statement of the European Securities and Markets Authority (ESMA). In this statement, ESMA calls on the various European supervisors to align their supervisory practices with regard to MiCA to prevent regulatory arbitrage and to promote a level playing field. The AFM emphasises that clear supervision is important for the maturity and reliability of the crypto market and that the AFM is committed to strong supervision.