Sep. 20, 2023 at 7:00 am

MiCA in a nutshell. The key information that you need to know from the legal perspective

The European Union has attempted to comprehensively regulate the cryptocurrency sector and its functioning in trading to this end, the European Parliament by majority decision adopted the MiCA (Market in Crypto-Assets) Regulation.

This regulation aims to regulate cryptocurrencies and digital assets in the European Union, setting requirements for public offerings and for the authorisation of crypto-assets that are:

E- money tokens “ETM”
asset-referenced tokens “ART”
tokens that are not ETMs or ARTs

MiCA’s mandate is to ensure greater transparency, safety and market investor protection in the cryptocurrency market in the European Union.

The regulations introduce:

uniform definitions of crypto-assets (CA) related terms
regulation of crypto-assets service providers in particular their registration, risk management, customer protection, transaction reporting
creating licenses for crypto-asset service providers (CASPs). The licence requires compliance with a number of cryptocurrency requirements including: capital requirements, customer cryptocurrency security and other aspects of the activities
investor protection through appropriate measures to protect investors from fraudulent practices

The regulation provides for a number of requirements regarding the information document and its publication