At least 10 countries in the European Union are finalizing or have finalised local legislation to facilitate the translation of MiCA regulations into local law

In a few months, the Crypto Asset Markets (MiCA) Regulations special project rules for stablecoin issuers will take effect first, followed by licensing and other requirements for companies across the cryptocurrency industry in December.
The MiCA regulation was adopted in 2023 after it took three years for governments across the European Union to develop a regulatory framework. Once it comes into force, each jurisdiction will have to translate the European Union-wide MiCA regulation into local law, choose which of its regulators will regulate cryptocurrencies, and prepare to empower token issuers and other service providers. Currently 20 countries are in various stages of preparation, with at least 10 countries finalizing or having finalised local legislation