The update directly implements MiCA regulations for virtual asset service providers, crypto-asset white papers, asset-referenced tokens, and e-money tokens—all core Digital Assets business models requiring licensing and technical compliance.
Mandatory inheritance: Digital Assets as the primary tag automatically triggers Investment Services as the secondary tag, reflecting the asset-management and custodial dimensions of virtual asset service provision.
Specialism
The regulations establish comprehensive technical standards, licensing requirements, and operational procedures for virtual asset service providers and crypto-asset markets under MiCA implementation.
Mandatory inheritance: Cryptocurrency is a child of Technology, so Technology must be raised as the secondary tag.
2026-04-09 07:49:57·adavies@vixio.com
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TITLE: Iceland's Central Bank Implements Regulations on Virtual Asset Markets
BODY:
On 31 March 2026, Iceland's Central Bank (Seðlabanki Íslands) adopted regulations implementing Law No. 101/2025 on virtual asset markets. The regulations operationalise the European Union's Markets in Crypto-assets Regulation (MiCA), which entered into force across the European Economic Area (EEA) on 30 December 2023.
The regulations establish detailed technical standards and procedures for virtual asset market participants operating in Iceland. Key areas covered include standardised forms and templates for crypto-asset white papers, sustainability indicators, and licensing applications for virtual asset service providers. The regulations also specify requirements for asset-referenced tokens and e-money tokens, including capital requirements, liquidity standards, and stress-testing frameworks. Additional provisions address conflict of interest policies, complaint handling procedures, market abuse prevention and detection mechanisms, and cooperation protocols between Icelandic and foreign regulatory authorities. The regulations further define record-keeping requirements for all virtual asset services, transactions, and activities, and establish procedures for approval of virtual asset white papers.
The regulations incorporate multiple European Commission delegated and implementing regulations adopted between September 2024 and June 2025, which were incorporated into the EEA framework through joint EES Committee decisions. These technical standards align Iceland's regulatory framework with EU requirements for virtual asset market supervision and consumer protection.
The regulations took effect immediately upon adoption on 31 March 2026.