Spain regulator issues MiCA transition Q&A for crypto platforms
Spain’s securities regulator, the CNMV, has released a Q&A document that outlines how it will implement the EU’s Markets in Crypto-Assets (MiCA) framework in practice. The paper sets out the regulator’s interpretation of transition arrangements and signals the supervisory approach it expects platforms, issuers and service providers to follow as they move toward authorization and ongoing compliance.
The move matters because it reduces legal and operational uncertainty for firms operating in Spain and those using Spain as a gateway to the EU market. By clarifying expectations—on areas such as compliance processes, reporting and supervisory engagement—the CNMV’s guidance should help firms prioritise workstreams and limit disruption. Market participants are likely to review the Q&A closely as they update policies and prepare for formal interactions with the regulator.