The Markets in Crypto-Assets Regulation (MiCA) and DAC8 together form the EU's comprehensive crypto regulatory framework. Understanding their relationship is essential for compliance planning.

MiCA Overview

MiCA establishes:

  • Licensing requirements for CASPs
  • Consumer protection rules
  • Market integrity provisions
  • Prudential requirements

Alignment Areas

Definitions

DAC8 aligns with MiCA definitions where possible:

  • Crypto-asset definition
  • CASP service categories
  • Custody and exchange concepts

Registration

MiCA-authorized CASPs may have simplified DAC8 registration through information sharing between authorities.

Different Objectives

Despite alignment, the regimes serve different purposes:

  • MiCA: Market regulation and consumer protection
  • DAC8: Tax compliance and information exchange
Key Insight

MiCA compliance does not automatically ensure DAC8 compliance. Both frameworks have distinct requirements that must be addressed.

Coordinated Compliance

Efficient compliance addresses both regimes:

  • Single customer onboarding process
  • Shared data infrastructure
  • Coordinated reporting systems
  • Unified compliance team

Practical Implications

For New CASPs

Plan for both MiCA authorization and DAC8 registration simultaneously. Building compliance infrastructure for both from the start is more efficient.

For Existing CASPs

Leverage MiCA compliance investments for DAC8 readiness. Much of the customer data and verification infrastructure can serve both purposes.

Conclusion

MiCA and DAC8 are complementary. Coordinated compliance strategies reduce costs and improve effectiveness.

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