The Markets in Crypto-Assets Regulation (MiCA) is the first comprehensive EU-wide regulatory framework for crypto-assets. Its objective is to provide legal certainty, transparency, and consumer protection in a market that has historically operated under fragmented national regimes.
MiCA applies to crypto-assets that are issued, offered to the public, or admitted to trading within the EU, and it focuses on regulating the activities and entities involved in these processes.
As MiCA approaches its first year of application, uncertainty remains across the market regarding how different tokens are classified and which regulatory obligations apply.
The below practical guide details the following:
- What is a crypto-asset under MiCA?
- Categories of crypto-assets under MiCA
- Exemptions and carve-outs for other crypto-assets
- Exemptions from the white paper requirement
- Offers outside the scope of Title II MiCA
- Important limitations to the exemptions
- Time-limited offers for certain utility tokens
- Why token classification matters
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
