Regulation (EU) 2023/1114 on markets in crypto-assets (MiCAR) has been fully applicable within the EU since 30 December 2024. The aim of the regulation is to establish a harmonised legal framework for individuals and entities operating in the primary and secondary markets for crypto-assets.

MiCAR will become directly applicable in Liechtenstein once the corresponding decision of the EEA Joint Committee to incorporate the regulation into the EEA Agreement enters into force. 

The necessary implementation into Liechtenstein law is carried out through the Law implementing Regulation (EU) 2023/1114 on Markets in Crypto-Assets (EEA MiCA Implementation Act, EWR-MiCA-DG), which entered into force on 1 February 2025. The EEA MiCA Implementation Act also pre-implements MiCAR until its incorporation into the EEA Agreement.