In the previous editions of our series on the Markets in Crypto-Assets Regulation (“MiCA”), we discussed the two routes by which crypto-asset services can be provided from 31 December 2024: (1) the licence and (2) notification. MiCA offers an exemption from the licence requirement in the event of reverse solicitation. But what is reverse solicitation, and to what extent can crypto-asset service providers (“CASPs”) rely on the exemption when entering the EU market without licence or notification? We will answer those questions in this edition.
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Apr