The European Union is reviewing its Markets in Crypto-Assets framework, and the consultation process has raised the possibility that developers of non-custodial Bitcoin wallets could be required to obtain certification before offering software to the public. The point surfaced in a post on X cited by Bitcoin News.
At the same time, the European Securities and Markets Authority, or ESMA, said open-source development, self-custody, automated smart contracts and permissionless infrastructure should not automatically be treated as regulated intermediaries. ESMA also proposed creating a new regulated service category for crypto-asset service providers that give clients access to decentralized protocols.
No current rules have been changed at this stage. The European Commission will review the feedback it receives and, under Article 140 of MiCA, submit a review report by June 30, 2027.
The European Union is reviewing the Markets in Crypto-Assets regulation, or MiCA, and the consultation includes a proposal that developers of non-custodial Bitcoin wallets obtain certification before offering software to the public, according to a post on X cited by Bitcoin News.
The European Securities and Markets Authority (ESMA) said open-source development, self-custody, automated smart contracts and permissionless infrastructure should not automatically be classified as regulated intermediaries. It also proposed a new regulated service for crypto-asset service providers that offer clients access to decentralized protocols.
The review has not changed the current rules. The European Commission will assess the feedback and submit a review report by June 30, 2027 under Article 140 of MiCA.
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