MiCA (Markets in Crypto-Assets) is a landmark European Union regulation that introduces the first comprehensive and unified legal framework for crypto-assets across the entire EU. The main goal of this regulation is to bring clear rules to the previously largely unregulated market of cryptocurrencies and other digital assets. MiCA primarily focuses on protecting investors and consumers, ensuring financial stability, and fostering innovation in digital finance. The regulation applies to entities that issue crypto-assets (issuers) and crypto-asset service providers (CASPs), such as exchanges, trading platforms, and custodians of crypto wallets.
The MiCA regulation divides crypto-assets into several categories, including asset-referenced tokens (stablecoins), e-money tokens, and other crypto-assets like utility tokens. Each category establishes specific obligations, such as the requirement to be authorized in the EU, to create and publish a detailed informational document (a white paper), and to adhere to capital requirements. In the Czech Republic, supervision of MiCA compliance is carried out by the Czech National Bank (ČNB). Key parts of the regulation, particularly for crypto-asset service providers, came into effect at the end of 2024.
.png)
.png)
.png)