The update directly addresses regulatory amendments for virtual asset issuers, specifically asset-referenced tokens and e-money tokens under the EU's MiCA framework, which falls squarely within the Digital Assets category.
Mandatory inheritance: Digital Assets as the primary tag requires Investment Services as the secondary tag, reflecting the asset-management and custodial oversight dimensions of virtual asset regulation.
Specialism
The update concerns regulatory amendments establishing procedural rules for token issuers and EBA enforcement powers over significant asset-referenced tokens and e-money tokens, which directly relates to token regulation.
Mandatory inheritance: Tokens is a child of Technology, so Technology must be raised as the secondary tag.
Reglugerðin innleiðir reglugerð (ESB) 2024/1504. Reglugerðin er undirgerð í tengslum við reglugerð (ESB) 2023/1114 um markaði fyrir sýndareignir.
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TITLE: Iceland's Government Launches Consultation on Virtual Asset Market Regulation Amendment
BODY:
On July 2, 2026, the Icelandic Government opened a consultation on proposed amendments to Iceland's virtual asset market regulation. The consultation period runs from July 2 to July 9, 2026.
The proposed regulation implements European Union Regulation 2024/1504, which amends EU Regulation 2023/1114 on markets in crypto-assets. The amendment modifies Iceland's existing Virtual Asset Market Regulation (No. 420/2026) and establishes detailed procedural rules for the European Banking Authority (EBA) to exercise enforcement powers against issuers of significant asset-referenced tokens and significant e-money tokens. Specifically, the regulation clarifies the procedures the EBA must follow when imposing penalties or fines on these token issuers.
The consultation is being managed by Iceland's Ministry of Finance and Economic Affairs through its Financial Market Office. The proposed regulation falls under the market supervision and consumer affairs portfolio. The consultation document and supporting materials, including the full text of EU Regulation 2024/1504, are available on Iceland's consultation portal (Samráðsgátt).
Stakeholders and interested parties are invited to submit written comments during the consultation period ending July 9, 2026. Submissions will be published as they are received. The Financial Market Office (fjr@fjr.is) oversees the consultation process. Following the consultation period, responses will be reviewed and considered before the regulation is finalised and implemented.
Samráðsgátt | Mál: S-114/2026 Tímalína máls 1 Til umsagnar 2.–9.7.2026 Í vinnslu Samráði lokið Skjöl til samráðs Reglugerð um breytin... Skjal Fylgiskjöl Reglugerð (ESB) 2024... Skjal Mál nr. S-114/2026 Birt: 2.7.2026 Fjöldi umsagna: 0 Drög að reglugerð Fjármála- og efnahagsráðuneytið Markaðseftirlit og neytendamál Áform um reglugerð um breytingu á reglugerð um markaði fyrir sýndareignir, nr. 420/2026 Málsefni Reglugerðin innleiðir reglugerð (ESB) 2024/1504. Reglugerðin er undirgerð í tengslum við reglugerð (ESB) 2023/1114 um markaði fyrir sýndareignir. Nánari upplýsingar Reglugerðin breytir reglugerð um markaði fyrir sýndareignir, nr. 420/2026 og innleiðir reglugerð (ESB) 2024/1504 frá 22. febrúar 2024 um viðbætur við reglugerð Evrópuþingsins og ráðsins (ESB) 2023/1114 með því að tilgreina nánar málsmeðferðarreglur fyrir beitingu valdheimilda Evrópsku bankaeftirlitsstofnunarinnar til að leggja á sektir eða févíti á útgefendur mikilvægra eignatengdra tóka og útgefendur mikilvægra rafeyristóka. Viltu senda inn umsögn? Umsagnir eru birtar jafnóðum og þær berast. Senda umsögn Boð um þátttöku (0) Umsjónaraðili Skrifstofa fjármálamarkaðar fjr@fjr.is