EU adviser says ‘MiCA 2’ is likely as crypto market matures: PBW 2026
TL;DR
A European Commission adviser indicated that the MiCA crypto regulation will likely evolve as the market matures. A public consultation will assess its effectiveness and potential for updates.
Key points
- EU adviser indicates MiCA regulation may evolve.
- Public consultation to assess MiCA's effectiveness planned.
- MiCA includes a review clause for potential updates by 2027.
Mentioned in this story
A European Commission adviser said the European Union’s landmark MiCA crypto regime is likely to evolve as digital asset markets develop beyond the conditions the law was originally designed to address.
Speaking at the Paris Blockchain Week (PBW) 2026, Peter Kerstens, an adviser on technological innovation, digital transformation and cybersecurity at the European Commission’s financial services department, said the Commission will review the Markets in Crypto-Assets Regulation (MiCA) and launch a public consultation to assess whether the rules are working for market participants and supporting business development.
The remarks suggest EU policymakers are already thinking about how MiCA may need to evolve as the crypto market matures. Kerstens said he could not predict the future, but added that EU financial legislation typically evolves in stages, suggesting it would be “rather unusual” if there were not a “MiCA 2” over time.
MiCA already contains a built-in review clause. The regulation requires the Commission to report on its application by June 30, 2027, and allows it to accompany that review with legislative proposals if needed, according to the Official Journal of the European Union.
OKX chief marketing officer Haider Rafique (left) with Peter Kerstens (right) at the PBW 2026. Source: Cointelegraph
MiCA review signals next phase of EU crypto rules
Kerstens said the review is not a response to a broken framework, but part of an effort to ensure rules keep pace with a changing market structure. He said MiCA was designed at a time when crypto markets were dominated by a few large assets and many smaller tokens.
He said that the ecosystem has since matured, requiring policymakers to reassess whether the framework fits in current conditions.
Related: EU central bank backs plan for crypto supervision under EU markets watchdog
He also emphasized the role of industry feedback, saying that the Commission would begin with a public consultation with “no taboos.” Kerstens invited market participants to identify where rules should be expanded, adjusted or left unchanged.
He warned that if regulation does not evolve alongside innovation, markets may develop around existing rules, creating legal uncertainty.
Kerstens’ comments come as aspects of MiCA and related frameworks are being tested in practice. On March 24, stablecoin issuer Circle urged the European Commission to adjust parts of its proposed Market Integration Package, including lowering thresholds that limit the use of euro-denominated stablecoins in settlement and expanding access for crypto-asset service providers.
At the same time, policymakers are debating how MiCA should be implemented. On April 3, officials weighed whether to shift supervision of major crypto firms to the European Securities and Markets Authority (ESMA) amid concerns over inconsistent enforcement.
Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO
Q&A
What is MiCA and why is it important for the EU crypto market?
MiCA, or Markets in Crypto-Assets Regulation, is a significant regulatory framework for digital assets in the EU, aimed at providing legal clarity and supporting market development.
When will the EU review the MiCA regulation?
The EU is required to report on the application of MiCA by June 30, 2027, which may include legislative proposals for updates.
What did Peter Kerstens say about the future of MiCA at PBW 2026?
Peter Kerstens suggested that as the crypto market evolves, it would be unusual if there were not a 'MiCA 2' to address new developments.
