EU Delays Vote on MiCA Crypto Legislation Until February

The European Parliament was to take its final vote on the Markets in Crypto-Assets legislation in an upcoming plenary session in November. But the draft needs to be translated into the 24 official EU languages. But since the text is technical and lengthy, the regulation’s adoption is now anticipated for February 2023. The MiCA legislation gives European regulators a period of 12 to 18 months to write and apply new rules based on the legislation. During this time, Europe’s financial supervisors and the European Commission will iron out final details as to how to implement the law.