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MiCA Recital (114) — preamble

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MiCA Recital (114) — preamble (114)Since the national regulatory frameworks applicable to crypto-asset service providers before the entry into application of this Regulation differ among Member States, it is essential that those Member States that do not, at present, have in place strong prudential requirements for crypto-asset service providers currently operating under their regulatory frameworks have the possibility of requiring such crypto-asset service providers to be subject to stricter requirements than those under the national regulatory frameworks.

In such cases, Member States should be permitted to not apply, or to reduce, the 18-month transitional period that would otherwise allow crypto-asset service providers to provide services based on their existing national regulatory framework.

Such an option for Member States should not set a precedent for any other Union legislative acts on financial services.

32023R1114

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (114); PDF page 14; derived-text line 949

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