Elisabeth Noble, Senior Policy Expert at the European Banking Authority responsible for crypto-asset policy mentions that the EBA has been monitoring and warning on crypto-asset risks since 2012 and advising the European Commission on the regulatory response. The MiCA regulation aims to strike an appropriate balance between mitigating risks, leveraging technology, and facilitating innovation. It covers a wide range of crypto-assets, but excludes MIFID financial instruments, NFTs and CBDCs. MiCA covers crypto-asset service providers and issuers and gives the EBA new supervisory powers with respect to significant stablecoins. MiCA will apply 12-18months after publication in the Official Journal (expected Spring 2023). In late 2023/early 2024, the EBA and ESMA are expected to publish consultation papers on technical standards and guidelines under MiCA. A review of MiCA is expected in years to come. Elisabeth believes the FTX collapse is likely to steer further international dialogue on regulatory standards and supervisory expectations.