Launching in May 2026, the system effective at the end of 2024, the consultation window period is thoughtfully designed, with both operational data and room for reflection.

The European Commission launched a public consultation on the MICA framework on May 20, 2026, openly seeking opinions on a unified crypto asset framework, with a deadline of August 31, 2026, covering crypto assets, asset reference tokens, electronic money tokens, and their issuers and service providers. This consultation is open to the public, market participants, and institutional stakeholders, including technical questions to assess practical effectiveness. The feedback collected will be used for future digital asset policy work. MICA came into effect on June 29, 2023, with stablecoin rules effective on June 30, 2024, and the overall system plan scheduled for implementation by December 30, 2024.