Content Gen Dashboard

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.

On April 8, 2026, Iceland's government published the regulations on virtual asset markets. The regulations further implement Act No. 101/2025 on virtual asset markets , implementing Regulation (EU) 2023/1114 (Markets in Crypto-Assets – MiCA). The regulations establish detailed technical standards and procedures for virtual asset market participants operating in Iceland. Specifically, it adopts several European delegated and implementing regulations, namely: Commission Implementing Regulation (EU) 2024/2545. Commission Implementing Regulation (EU) 2024/2494. Commission Implementing Regulation (EU) 2024/2861. Commission Implementing Regulation (EU) 2024/2902. Commission Implementing Regulation (EU) 2024/2984. Commission Delegated Regulation (EU) 2025/292. Commission Delegated Regulation (EU) 2025/293. Commission Delegated Regulation (EU) 2025/294. Commission Delegated Regulation (EU) 2025/296. Commission Delegated Regulation (EU) 2025/297. Commission Delegated Regulation (EU) 2025/298. Commission Delegated Regulation (EU) 2025/299. Commission Delegated Regulation (EU) 2025/300. Commission Delegated Regulation (EU) 2025/303. Commission Implementing Regulation (EU) 2025/304. Commission Delegated Regulation (EU) 2025/305. Commission Implementing Regulation (EU) 2025/306. Commission Delegated Regulation (EU) 2025/413. Commission Delegated Regulation (EU) 2025/414. Commission Delegated Regulation (EU) 2025/415. Commission Delegated Regulation (EU) 2025/416. Commission Delegated Regulation (EU) 2025/417. Commission Delegated Regulation (EU) 2025/418. Commission Delegated Regulation (EU) 2025/419. Commission Delegated Regulation (EU) 2025/885. Commission Delegated Regulation (EU) 2025/1125. Commission Implementing Regulation (EU) 2025/1126. Commission Delegated Regulation (EU) 2025/1140. Commission Delegated Regulation (EU) 2025/1141. Commission Delegated Regulation (EU) 2025/1142. Commission Delegated Regulation (EU) 2025/1264. The regulations enter into force immediately.

meta_id 3045542

Generated

Iceland's Central Bank Implements Regulations on Virtual Asset Markets

Agent draft

Published

Iceland's Central Bank Publishes Regulations on Virtual Asset Markets