Olky, as a key member of the Web 3 ecosystem in France, contributes to the HCJP's strategic reflections on the implementation of MiCA in France

The Haut Comité Juridique de la Place de Paris (HCJP) today published its report on the transposition of Regulation (EU) 2023/1114 of May 31, 2023 on crypto-assets markets (MiCA) into French law, with the aim of ensuring legal certainty for the market players of the Web3 industry willing to serve the French market.

It therefore proposes areas for transposition or clarification on a number of key issues, such as

• management of the transitional period up to July 1, 2026;
• the convergence of certain key MiCA definitions (crypto-assets, DLT, consensus mechanisms, non-fungible tokens) with the definitions enshrined in the Law Pacte (digital assets, DEEP, etc.)
• the patrimonial aspects of holding crypto-assets on behalf of third parties, which may be the subject of loan or repo transactions.

Furthermore, in order to ensure a level playing field within the EU, the HCJP proposes to bring certain issues to the attention of the European authorities, as part of the finalization of the RTS (MiCA level 2) or EBA/ESMA guidelines.

Within this framework, Olky group, represented by Karima Lachgar, has actively contributed to the reflections of the various sub-working groups bringing together law professors, public authorities representatives and experts of the industry.

The report and its appendices are available here: https://lnkd.in/erYnjffP