meta_id 3275724

On June 25, 2026, Ireland's Central Bank of Ireland published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Minimum Competency) (Amendment) Regulations 2026 (S.I. No. 295/2026). The regulations amend the existing Minimum Competency Regulations 2017 to extend competency requirements to persons providing services related to crypto-assets under the Markets in Crypto Assets Regulation (MiCA). The amendments introduce new definitions and requirements specific to MiCA Services, defined as giving information on crypto-assets or crypto-asset services or providing advice on crypto-assets or crypto-asset services. Key changes include: introducing definitions for "appropriate experience" and "appropriate qualification" in relation to MiCA Services, with qualifications assessed against the European Securities and Markets Authority (ESMA) MiCA Guidelines; amending the definition of "consumer" to clarify coverage of natural persons, groups of natural persons, and incorporated bodies below specified turnover thresholds; and updating the definition of "qualified person" to encompass persons providing MiCA Services who hold appropriate qualifications and experience as set out in the ESMA MiCA Guidelines. The regulations also modify requirements for regulated firms regarding new entrants providing MiCA Services, requiring firms to establish plans for obtaining appropriate qualifications and experience, with documentation checks by qualified supervisors until competency standards are met. Additionally, firms must conduct annual internal reviews of employee qualifications and development needs, and where firms provide MiCA Services, must review the effectiveness of policies and procedures established to comply with MiCA Articles 68(5) and 81(7) and the ESMA MiCA Guidelines. The regulations come into operation on July 28, 2026.