**Soken.io** - is a one-stop service provider in tailored cyber security and Web3 legal solutions.

We stand as a security and legal business partner that helps companies to reach the next level and gain success along the way.

About Soken

• We have exposure of 3+ years of successful cooperation with Tier1 and Tier2 companies.
• High-level expertise in auditing and releasing projects in different Web3 domains on 25 blockchains**.**

Disclaimer: Actual Mandatory Legal Updates of MiCA

Why is it critical to work through the legal documents for any company exactly right now?

Regulation of the crypto industry is taking on a new scale with each passing month.

Crypto Projects registered outside the EU can operate within the EU, but they must adhere to the Markets in Crypto-Assets Regulation (MiCA) regulations.

By the end of 2024, 100% of companies will be forced to comply with the requirements of regulators in the EU [MiCA] and the US [SEC].

Licensing [MiCA]

Penalties [MiCA]

Important Considerations:

• The specific penalties imposed will be at the discretion of the competent authority, taking into account the specific circumstances of the case.
• MiCA emphasizes the importance of cooperation and information sharing among competent authorities across different EU Member States to ensure effective enforcement.

It's crucial for CASPs to understand the potential penalties for non-compliance and take proactive measures to ensure they adhere to MiCA requirements.