EU Reviews MiCA Requirements for Non-Custodial Bitcoin Wallet Certification

The European Union is reviewing the MiCA regulations, consulting on the requirement for developers of non-custodial Bitcoin wallets to obtain certification before offering software to the public. The European Securities and Markets Authority (ESMA) stated that open-source development, self-custody, automated smart contracts, and permissionless infrastructure should not automatically be considered regulated intermediaries. Additionally, ESMA proposed establishing new regulated services for crypto asset service providers that offer customers access to decentralized protocols. This review has not changed the current rules, and the European Commission will assess the relevant opinions and submit a review report by June 30, 2027, in accordance with Article 140 of MiCA.

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