13 November 2024
Jack Chambers, the Irish Minister for Finance, has signed a statutory instrument designating the Central Bank of Ireland (‘Central Bank’) as the National Competent Authority (‘NCA’) under the Markets in Crypto Assets Regulation (‘MiCAR’).
Statutory instrument No 607 of 2024, European Union (Markets in Crypto-Assets) Regulation 2024 – 2024/01986, was signed in on 08 November 2024, implementing the following:
This statutory instrument will commence operation as of 08 November 2024 and the regulation was published in Iris Oifiúigil on 12 November 2024.
For further information please see the Department of Finance website.
We expect the next step is for the Central Bank to publish its initial application form for CASP authorisation, called a Key Facts Document (‘KFD’).
KPMG Law’s Financial Services Regulation team has significant experience assisting regulated firms with all stages of a firm’s lifecycle, from initial business planning, through authorisation and beyond.
We can assist with reviewing existing governance and processes against regulatory expectations and requirements and can assist with both the authorisation application, as well as the implementation of policies, procedures and operational matters, to effectively navigate the authorisation process with the Central Bank.
For more information, please see our article here.
If you have any queries related to any aspects of MiCAR or other regulatory requirements or expectations, please do not hesitate to contact our team below. We would be delighted to hear from you.
