The Financial institutions in Virtual currency Legislation (MiCA), the EU’s effort to introduce the virtual currency universe inconsistent with previous investment legislation, such as MiFID II, that also encompasses a broad range of foundations in conventional stock markets, as well as larger market misuse and proxy statement rules and regs, is perhaps the most major development presently. It is crucial to clarify, nevertheless, that the legislation only pertains to crypto asset producers and mortgage lenders, not to investments in them. While MiCA would not prohibit crypto investments, those funds may be liable to deposit insurance duties, according to Byrne. MiCA is also not expected to take operation until about the year 2023 or 2024.