Better protection for buyers of crypto-assets

What changes?

Do you trade in crypto-assets? The European Commission introduced a regulation to regulate the crypto market. This is the Markets in Crypto Assets Regulation (MiCAR or MiCA regulation). The regulation covers crypto-assets that currently are not regulated by existing financial services legislation.

As a result, new rules have been implemented to regulate the market in crypto-assets:

• You may only provide crypto-assets in the European Union with a CASP licence.
• Providers of crypto-assets are not allowed to sell products that are too high-risk or complex, and they cannot deliberately mislead buyers.
• If providers advertise it must be clear who the sender of the advertisement is.
• If a platform is hacked and cryptos are stolen, providers must compensate their customers.
• Crypto service providers are not allowed to use their clients’ funds to trade with on their accounts
• Crypto -assets and crypto companies are under the supervision of the Dutch Authority for Financial Markets (AFM).

The new rules for the regulation of the crypto-assets market are set out in the national implementing law of this European regulation.

For whom?

• providers of crypto-assets

When?

The Implementing law of the MiCA Regulation entered into force on 30 December 2024.