MiCA (markets in crypto-assets)

MiCA (Markets in Crypto-Assets) is regulation (UE) 2023/1114, which creates a harmonised framework for crypto-assets in the European Union. It subjects crypto-asset service providers to an authorisation, together with requirements on own funds, governance, safekeeping of client assets and disclosure. It also governs the issuance of tokens, in particular asset referenced tokens and electronic money tokens. For compliance, its main effect is to align the sector with the general law: providers fall fully within know your customer and anti-money laundering obligations, to which the Travel Rule on the traceability of transfers is added.