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+40 (744) 368 368office@bsa.roStr. Belgrad 10, Sector 1, 011804Buju, Stanciu & Asociații is a member of Interlegal and Legal Network International

Blockchain and digital assets

By Buju, Stanciu & Asociații

What you need to know about the MiCA regulations

In recent years, cryptocurrencies and digital assets have gone from being speculative instruments to an economic reality faced by investors and regulators alike. Seeking to bring clarity and certainty to a continuously expanding market, the European Union has adopted the MiCA Regulation (Markets in Crypto-Assets) - the first unified legislative framework dedicated to cryptocurrencies and digital assets at European level.

For entrepreneurs, investors and companies active in the blockchain sector, these regulations represent a major shift. They introduce clear rules, precise obligations and protection mechanisms for users. At the same time, MiCA also creates opportunities, as it harmonises the legislation across all Member States, thereby establishing a stable framework for the development of digital businesses.

At Buju, Stanciu & Associates, our team of lawyers has been involved in projects covering both legal assistance in cryptocurrency fraud cases and advisory work for companies seeking to operate in compliance with European legislation. Our experience in criminal and corporate law, combined with a deep understanding of the crypto market, makes us a trusted partner for any business in need of a MiCA lawyer.

What is the MiCA Regulation?

The MiCA Regulation, adopted in April 2023, is the first set of uniform rules applicable across all European Union Member States in relation to:

  • the issuance of cryptocurrencies and tokens;
  • the operation of exchange platforms and crypto service providers;
  • investor protection and market transparency;
  • the supervision and authorisation of companies active in this field.

Its main purpose is to reduce the risks associated with cryptocurrencies - volatility, fraud, lack of transparency - and to ensure a high level of consumer protection.

Why does MiCA matter?

Before MiCA, each EU Member State had its own rules, which created uncertainty for companies wishing to expand their activity across borders. Through this regulation, the EU introduces a unified, predictable and transparent framework.

For companies, this means:

  • a single licence valid throughout the EU;
  • clear rules on minimum capital and reporting obligations;
  • strict measures against money laundering and terrorist financing;
  • greater confidence among investors and users.

Who does MiCA apply to?

The MiCA Regulation applies both to issuers of cryptocurrencies and to service providers. Those covered include:

  • companies issuing tokens (including stablecoins);
  • crypto exchange platforms;
  • digital wallet providers (custodian wallets);
  • advisory and brokerage firms in the field of digital assets.

Any entity wishing to operate in Romania or in the EU will have to comply with the new requirements and obtain the necessary authorisation.

The main obligations under MiCA

1. Authorisation of crypto service providers

Companies offering exchange, custody or brokerage services must obtain authorisation from the competent authority in the state where they are established.

2. Minimum capital requirements

In order to prevent insolvencies and losses for investors, crypto service providers must demonstrate that they hold minimum capital proportionate to the scale of their activity.

3. Transparency and user information

Token issuers are required to publish a whitepaper setting out detailed information about the project, the risks and how it operates.

4. Strict supervision

National authorities and European bodies will work together to monitor the market and prevent abuse.

5. Investor protection

MiCA introduces rules similar to those already in place on traditional financial markets, giving investors access to clear information and protection mechanisms.

The impact of MiCA on the Romanian market

Romania is a country where interest in cryptocurrencies is growing, both among individual investors and among companies. The implementation of MiCA will bring:

  • greater security for investors;
  • increased confidence in crypto projects;
  • a predictable framework for blockchain start-ups;
  • a stricter filter against fraud and scams.

For companies, the challenge will be to align with the new requirements, which entails costs, documentation and well-defined internal procedures.

How can a MiCA lawyer help you?

Navigating the MiCA legislation requires specialist knowledge of both European law and blockchain technology. A MiCA lawyer can provide support in several areas:

  • analysing whether projects comply with the requirements of the regulation;
  • drafting the documentation required for authorisation;
  • assistance in dealings with national and European authorities;
  • identifying and managing legal risks;
  • representation in any disputes concerning cryptocurrencies.

At Buju, Stanciu & Asociatii, we have worked with start-ups as well as with international companies seeking to expand into the European market. The experience we have gained allows us to provide advice tailored to each stage - from launching a project to operating it in compliance with the MiCA legislation.

Challenges and opportunities

The MiCA Regulation is not merely a set of restrictions; it is also an opportunity. For serious companies that invest in transparency and security, it represents a competitive advantage. For projects operating at the edge of the law, however, MiCA will act as a stringent filter.

From our perspective as lawyers, the greatest challenges will be:

  • adapting quickly to bureaucratic requirements;
  • managing cross-border compliance;
  • striking a balance between innovation and regulation.

The major opportunity, on the other hand, lies in strengthening confidence in the crypto market and attracting serious investment.

Conclusion

The MiCA Regulation marks an important step in the maturing of the European cryptocurrency market. It brings clear rules, enhanced protection for investors and a single framework for companies.

For entrepreneurs and investors, understanding and applying these rules is not optional but an essential condition for success. In this context, the support of a MiCA lawyer is indispensable.

The law firm Buju, Stanciu & Asociatii remains a trusted partner for all those who wish to operate lawfully and efficiently in the field of digital assets. Combining experience in criminal and corporate law with know-how specific to the crypto market, we offer our clients clear, practical solutions tailored to the current legislative challenges.