MiCA (Markets in Crypto-Assets)
Definition
MiCA is the European Union regulation that sets harmonised rules across member states for issuing crypto-assets and for providing crypto-asset services such as custody, exchange and transfers.
MiCA, the Markets in Crypto-Assets regulation (EU 2023/1114), is the European Union framework governing crypto-assets and the firms that provide services around them. Before MiCA, firms navigated a patchwork of national regimes across the EU. MiCA replaces much of that with a single framework that applies across member states. It defines the token categories that cover most stablecoins, e-money tokens and asset-referenced tokens, and it sets the authorisation regime for crypto-asset service providers. For institutions, MiCA is what turned stablecoin adoption from a regulatory grey area into a defined set of rules with named regulators.
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