5 minutes read
MiCAR seeks to harmonise the regulation of cryptocurrencies and digital assets across EU Member States. Next to MiCAR, and inspired on the OECD’s Crypto-Asset Reporting Framework (CARF), DAC8 introduced a standardised EU reporting requirement coupled with an automatic exchange of information mechanism.
EU Member States have to transpose DAC8 into their national legislation by 31 December 2025, with the due diligence and reporting requirements taking effect as of 1 January 2026.
This edition of Quoted outlines the scope of and the measures embodied in MiCAR and DAC8 and addresses the key obligations faced by providers of crypto-asset services under MiCAR and DAC8 and their (practical) implications.
