The Markets in Crypto-Assets Regulation ("MiCA") is quickly revolutionising the EU crypto landscape. Whether you are issuing tokens or operating a crypto exchange, aligning with MiCA is now critical to staying relevant in a competitive market. While a lot has been said about e-money tokens and asset referenced tokens, other crypto-assets are also impacted by MiCA.
Although other crypto-assets can be issued with fewer restrictions, offering them to the public or admitting them for trading in the EU requires compliance with MiCA. This includes preparing a MiCA-compliant whitepaper and submitting it to the competent national authority while following the required procedures.
Other crypto-assets already being traded prior to MiCA's applicability will also need to align their whitepapers with MiCA's standards to remain available on EU-regulated exchanges. This is also essential to enable such other crypto-assets to continue being utilised by MiCA licensed crypto-asset service providers offering services like brokerage or custody.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
