new platform<\/a>, called Aquarius, automates key compliance tasks under the European Union\u2019s Markets in Crypto-Assets (MiCA) regulation, including crypto-asset classification, regulatory white paper generation, due diligence and environmental, social and governance (ESG) disclosures.<\/p>\nDesigned for companies entering the European market or expanding existing crypto services, the platform combines automated compliance workflows with legal support to simplify MiCA requirements. Reed Smith said future versions will also support crypto compliance regimes in the United Kingdom, the United Arab Emirates, Hong Kong, and Singapore.<\/p>\n
The launch comes shortly after the European Union\u2019s MiCA transition period ended on July 1, when crypto companies could no longer rely on temporary national exemptions in member states that adopted the full grandfathering period. The framework now requires crypto-asset service providers to meet common licensing, consumer protection, and operational standards across all 27 EU member states.<\/p>\n
Reed Smith has continued expanding its digital asset practice through its \u201cOn Chain\u201d initiative. The firm acted as legal counsel to the placement agents in Trump Media\u2019s $2.5 billion Bitcoin treasury financing and also advised Nakamoto Holdings on its merger with KindlyMD to establish a Bitcoin treasury company.<\/p>\n
Focus moves from licensing to supervision<\/h2>\n
Recent regulatory activity indicates that European authorities are now concentrating on how licensed firms operate after receiving approval.<\/p>\n
<\/p>\n
Last week, the European Securities and Markets Authority (ESMA) began a Common Supervisory Action covering selected MiCA-authorized crypto-asset service providers. According to ESMA, the review examines custody operations, including private key management, transaction controls, incident response procedures and reliance on third-party technology providers.<\/p>\n
Sebastien Dessimoz, co-founder and managing partner of digital asset infrastructure provider Taurus, previously said obtaining a MiCA licence is only the starting point for custodians because regulators now expect firms to demonstrate that their operational controls can withstand real-world risks. He added that supervision increasingly focuses on cybersecurity, governance and protection of client assets rather than licensing alone.<\/p>\n
Institutional expectations have also increased. Jody Mettler, chief operating officer of BitGo and president of BitGo Trust, previously said clients are paying closer attention to how custodians segregate customer assets, control access, respond to security incidents and maintain business continuity during periods of market stress.<\/p>\n
Meanwhile, European policymakers continue discussing possible changes to MiCA after its rollout. According to a Euronews report, officials are considering future revisions to stablecoin rules, including the treatment of non-euro-denominated stablecoins, following the passage of the United States\u2019 GENIUS Act.<\/p>\n
The European Parliament has also asked the European Commission to examine whether decentralized finance, staking, crypto lending and borrowing, non-fungible tokens and tokenized financial assets should receive more specific treatment under the EU\u2019s crypto framework. Parliament\u2019s position does not change the law but provides political support for further reviews, while any expansion of MiCA would still require separate legislative proposals.<\/p>\n
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