EU Markets in Crypto-Assets Regulation governing crypto-asset service providers and stablecoin issuers across the European Union.
MiCA (Regulation (EU) 2023/1114) is the European Union's comprehensive framework for crypto-assets, stablecoins, and crypto-asset service providers (CASPs). It establishes authorisation, governance, capital, conduct, and market abuse rules. Title III covers asset-referenced tokens (ARTs), Title IV covers e-money tokens (EMTs), and Title V covers CASP licensing. Most operative provisions apply from 30 December 2024, with stablecoin rules in force since 30 June 2024. National competent authorities license and supervise CASPs, while EBA and ESMA oversee significant issuers.
FATF-aligned obligation requiring VASPs to share originator and beneficiary information for crypto-asset transfers.
Crypto-asset designed to maintain a stable value by referencing a fiat currency, asset, or basket of assets.
Crypto-Asset Service Provider authorised under MiCA to provide one or more crypto-asset services in the EU.