THE EUROPEAN UNION'S MARKETS IN CRYPTO-ASSETS (MICA) REGULATION: ITS ROLE IN PREVENTING CRYPTO-CRIMES
DOI:
https://doi.org/10.5281/zenodo.17971526Keywords:
MiCA regulation, international law, crypto-assets regulation, anti-money laundering legislation, terrorist financing, legal mechanisms, European Union lawAbstract
This article analyzes the legal mechanisms of the European Union Regulation No. 2023/1114 on Markets in Crypto-Assets in preventing crypto-crimes, particularly money laundering, terrorist financing, and market manipulation. The research examines from an international law perspective MiCA's normative structure, jurisdictional issues, and legal liability measures. Results demonstrate that MiCA creates unified legal framework for regulating crypto-assets at international level.
References
Padalkar N.R. Unveiling the Digital Shadows: Exploring Illicit Financial Flows in the Digital Economy // IMF Statistics Forum. – 2023. – P. 1-25. – URL: https://www.imf.org/-/media/Files/News/Seminars/2023/11th-stats-forum/session-iii-nakul-r-padalkar.ashx
Evaluation of Potential Cryptocurrency Development Ability in Terrorist Financing // Policing: A Journal of Policy and Practice. – Oxford Academic, 2022. – Vol. 15, Issue 4. – P. 2329-2345. – URL: https://academic.oup.com/policing/article/15/4/2329/6365869
Arda Akartuna E., Johnson S.D. The money laundering and terrorist financing risks of new and disruptive technologies: a futures-oriented scoping review // Security Journal. – Springer, 2022. – Vol. 35. – P. 1-28. – URL: https://link.springer.com/article/10.1057/s41284-022-00356-z
Regulation (EU) 2023/1114 of the European Parliament and of the Council on markets in crypto-assets // Official Journal of the European Union. – 2023. – L 150. – P. 1-146. – URL: https://eur-lex.europa.eu/EN/legal-content/summary/european-crypto-assets-regulation-mica.html
Zetzsche D.A., Annunziata F., Arner D.W., Buckley R.P. The Markets in Crypto-Assets regulation (MiCA) and the EU digital finance strategy // Capital Markets Law Journal. – Oxford Academic, 2021. – Vol. 16, Issue 2. – P. 203-225. – URL: https://academic.oup.com/cmlj/article-abstract/16/2/203/6324188
Tomczak T. Crypto-assets and crypto-assets' subcategories under MiCA Regulation // Capital Markets Law Journal. – Oxford Academic, 2022. – Vol. 17, Issue 3. – P. 365-382. – URL: https://academic.oup.com/cmlj/article/17/3/365/6609567
Terror on the Blockchain: The Emergent Crypto-Crime-Terror Nexus // Springer. – 2024. – P. 197-225. – URL: https://link.springer.com/chapter/10.1007/978-3-031-59547-9_9
New Rules for Crypto-Assets in the EU // eucrim: The European Criminal Law Associations' Forum. – 2023. – P. 72-75. – URL: https://eucrim.eu/news/new-rules-for-crypto-assets-in-the-eu/
Mkrtchyan G., Treiblmaier H. Business Implications and Theoretical Integration of the Markets in Crypto-Assets (MiCA) Regulation // FinTech. – MDPI, 2025. – Vol. 4, Issue 2. – P. 1-24. – URL: https://www.mdpi.com/2674-1032/4/2/11
MiCA Regulation: New regulatory framework for Crypto-Assets Issuers and Crypto-Asset Services Providers in the EEA // White & Case. – 2023. – P. 1-12. – URL: https://www.whitecase.com/insight-alert/mica-regulation-new-regulatory-framework-crypto-assets-issuers-and-crypto-asset
The (mis)use of cryptocurrencies by criminal organizations: a systematic literature review // Digital Finance. – Springer, 2025. – Vol. 7. – P. 1-32. – URL: https://link.springer.com/article/10.1007/s42521-025-00148-1
Puławska K. Impact of the Mica Regulation on Crypto-Asset Markets Activity: an Event Study Approach // SSRN Electronic Journal. – 2025. – P. 1-35. – URL: https://papers.ssrn.com/sol3/Delivery.cfm/a7242725-df6f-4915-b34a-a1d14e899714-MECA.pdf?abstractid=5393753
Teichmann F.M.J. Financing terrorism through cryptocurrencies – a danger for Europe? // Journal of Money Laundering Control. – 2018. – Vol. 21, Issue 4. – P. 513-519. – DOI: 10.1108/JMLC-01-2018-0001
