Minister for Finance Michael McGrath TD opened a public consultation on the exercise of national discretions contained within the Markets in Crypto Assets Regulation (MICAR) (EU) 2023/1114.
The Markets in Crypto-Assets Regulation is the first European-level legislation introducing a harmonised and comprehensive framework for crypto-assets, covering issues from the offering to the public of crypto-assets to preventing market abuse in crypto-asset markets.
The legislation provides a set of prescriptive rules that will shape the functioning of the European markets in crypto-assets, including transparency rules, authorisation requirements, customer protection rules and an anti-market abuse framework. An online consultation portal is now open to allow all stakeholders to submit their views on whether and how Ireland should exercise national discretions contained within MiCAR.
The consultation period will run to 5pm, 15 September 2023. Submissions received after this deadline will not be considered.