The MiCAR regulation offers banks a new way to quickly obtain authorisation for a crypto offering. Amadeus Gryger and Laura Weiß explain that the notification procedure under Article 59(1)(b), 60 MiCAR is a notification-only procedure for CRR credit institutions, which shortens market entry and promotes the European single market.
MiCAR ensures a harmonised regulatory environment for crypto-assets and crypto-asset services across the EU and creates investor confidence. Banks can now better serve their customers and address larger customer groups.
Licensing under MiCAR will have a positive impact on the reputation of the licensed parties and by passporting their licence, service providers can take advantage of the overall European market.
You can download the entire article here (in German).