The European crypto market has entered a new regulatory phase. As of today, 1 July 2026, the Markets in Crypto-Assets Regulation (MiCA) is fully applicable across the European Union, introducing a harmonised legal framework for crypto-asset service providers (CASPs) and replacing the fragmented national approaches that previously governed the sector.
According to Marina Villalonga, Partner at Asensi Abogados, MiCA represents a fundamental shift in the way crypto businesses operate within the EU. Rather than navigating different national rules, companies will now be subject to a single regulatory framework applicable across all Member States.
“The market is moving from operating under fragmented rules to a single European regulation,” Marina explains.
In her view, this harmonisation is one of the regulation’s greatest strengths. A common legal framework provides greater legal certainty for market participants while facilitating cross-border activity through the European passport regime available to authorised CASPs.
At the same time, Marina highlights that MiCA significantly raises the standards required to operate in the sector. While the regulation contributes to the professionalisation of the crypto industry, it also introduces substantially higher barriers to entry for businesses seeking to provide crypto-asset services.
“This professionalises the sector, although it also considerably increases the barriers to entry,” she notes.
For established market participants committed to compliance, MiCA offers an opportunity to strengthen trust, improve governance and foster a more mature European digital assets ecosystem. As the regulatory landscape continues to evolve, businesses operating in the crypto sector will need to ensure their governance, compliance and operational frameworks meet the new European requirements.
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