BRUSSELS, BE – The European Parliament announced Monday that it scheduled a debate over the Markets in Crypto Assets (MiCA) regulation for April 18, 2023, according to its agenda. 

The law’s basic outline was completed last June, but the debate over its legal text and translating it into the bloc’s 24 official languages delayed the vote. 

MiCA would institute a crypto licensing regime for the 27 countries in the European Union. Moreover, it will regulate wallet providers and exchanges to meet governance and consumer protection standards and require transparent reserve minimums for stablecoins.

According to regular parliamentary rules, a vote will occur the next day, April 19. If the law passes through the European Parliament, it will be enforced over the next one to three years.