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REGULADORA MiCA European Union Financial System
OFFICIAL REGULATORY GUIDE

Comprehensive Information on MiCA Regulation

Unified European legal framework for issuing, trading, and servicing crypto-assets across the EEA.

What is the MiCA Regulation?

The Markets in Crypto-Assets Regulation (MiCA - Regulation EU 2023/1114) establishes uniform rules across the European Union market for crypto-assets that are currently not covered by existing financial services legislation (such as MiFID II).

Key provisions apply to crypto-asset issuers, Asset-Referenced Tokens (ART), Electronic Money Tokens (EMT), and Crypto-Asset Service Providers (CASP).

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Covered Crypto-Asset Categories

  • 1. Asset-Referenced Tokens (ART): Crypto-assets backed by multiple currencies, commodities, or other assets to maintain a stable value.
  • 2. Electronic Money Tokens (EMT): Crypto-assets intended to maintain a stable value by referencing a single official fiat currency.
  • 3. Utility Tokens & Other Assets: Intended to provide digital access to a good or service offered by the issuer.
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Requirements for CASP Providers

Entities offering custody, exchange, order execution, or advice on crypto-assets must obtain prior authorization.

  • ✓ Mandatory registered office in an EU Member State
  • ✓ Minimum capital and own funds requirements
  • ✓ Fit and proper evaluation for management body members
  • ✓ Strict segregation of client funds and assets
ENVIRONMENTAL DETERMINATION

Sustainability Indicators & Climate Impact

In accordance with ESMA Consultation Packages, crypto-asset issuers and trading platforms must publicly disclose clear information regarding energy consumption and greenhouse gas emissions associated with the consensus mechanism utilized (Proof of Work vs. Proof of Stake).

Mandatory Disclosure: Standardized templates for measuring carbon footprint and environmental impact of consensus mechanisms.
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