This law implements an EU regulation on Markets in Crypto-Assets (MiCA) in Iceland through the EEA Agreement. The regulation establishes rules for crypto-asset service providers, such as cryptocurrency exchanges and custodians, requiring licensing and consumer protection measures. The law connects various existing Icelandic financial services laws (covering anti-money laundering, payment services, and financial instruments) to the new framework. It affects anyone trading in or providing services related to cryptocurrencies and other virtual assets in Iceland.