Commission officials are evaluating whether to extend current regulations to cover tokenized deposits and provide legal clarity for American firms operating within the 27 member states. These discussions arrive just as the initial MiCA licensing regime became fully operational on July 1, mandating that all crypto-asset service providers obtain formal authorization to serve the European market.
While public consultations for what industry insiders call "MiCA 2.0" remain open until August 31, experts anticipate a lengthy legislative timeline. Miroslav Durić of Taylor Wessing suggests that concrete proposals are unlikely to materialize before 2028, reflecting the complexity of aligning European oversight with evolving American policies like the Digital Asset Market Clarity Act.
Simultaneously, the European Securities and Markets Authority is tightening its grip on existing market participants. Starting this month, the regulator will launch a comprehensive review of operational resilience, focusing specifically on how licensed firms manage custody-related risks. This assessment will continue through the first half of 2027, ensuring that the safeguarding of customer assets remains robust as digital finance integrates further into the traditional financial system.
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