How to Prepare for MiCA
How to Prepare for MiCA
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The MiCA regulation, which comes into force in 2025, will set new requirements for the crypto asset market. At Jurisprudential, we are ready to conduct a full audit of your company, identify non-compliances and help you prepare for MiCA, ensuring compliance with AML, KYC and other regulations.
MiCA Basic Requirements
MiCA imposes strict requirements on companies working with cryptocurrencies. Among the key provisions:
- Licensing of crypto companies: Companies dealing in crypto assets are required to obtain a VASP license.
- Transparency of information: Need to prepare transparency documents, including whitepaper.
- AML/KYC procedures: Companies are required to implement reliable customer identification systems.
The Role of Technology in MiCA Compliance
An important aspect of MiCA preparation is the analysis and optimization of the use of technologies such as blockchain and DLT. This includes:
- Transparency of operations: Providing the ability for regulators to track transactions in the system.
- Data Security: Platform compliance GDPR and ensuring the protection of user data.
- Technical standards: Evaluation of the consensus mechanism (Proof of Work, Proof of Stake) and its impact on sustainability.
For a detailed analysis, you can refer to our article on the impact of MiCA on cold wallets.
AML and KYC procedures
MiCA compliance is impossible without the implementation of high-quality AML/KYC procedures , which include:
- Identification of clients and verification of sources of income.
- Detecting suspicious transactions and using a risk-based approach.
- Updating client data.
For more information on the nuances of declaring cryptocurrencies, read our article here.
How can we help?
Jurisprudential offers the following services:
- Проведение risk audit and development of recommendations.
- Prepare necessary documentation, including whitepaper.
- Support in interactions with regulators and banks.
Our specialists will help your business meet new requirements and minimize risks.
Ready to prepare for MiCA? Contact Jurisprudential for professional help and advice.
Read more about MiCA on the European Parliament website.