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ARTICLE · 10 MAY 2023

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Crypto Assets Regulation - MiCA Approved By The European Parliament!

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MiCA, considered a milestone in the world of crypto assets, was adopted by the European Parliament on April 20, 2023.

TurkeyTechnology
Melodi Özer
Melodi Özer
Melis Atalay
Melis Atalay
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MiCA, considered a milestone in the world of crypto assets, was adopted by the European Parliament on April 20, 2023. MiCA aims to protect consumers and ensure financial stability across the European Union, while allowing for the innovative use of new financial technologies. This regulation is the first legal framework within the EU to govern crypto assets, and it is intended that all member states will comply with it.

Under the regulation, crypto assets are defined as "the digital representation of a value/right that can be electronically transferred and stored using distributed ledger technology or similar technology." MiCA also categorizes crypto assets into three distinct groups: asset-referenced tokens (ARTs), e-money tokens (EMTs), and other crypto assets.

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