MiCA regulation provides crypto-asset clasification, imposes authorization and disclosure requirements to crypto -asset service providers, include measures to safequard consumers, provisions against market abuse and insider trading

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Consumers will be granted a right of withdrawal for 14 days after purchasing crypto-assets other than asset-referenced tokens and e-money tokens. Crypto-asset service providers will also be liable in case they lose investor funds.

MiCA is a regulatory framework that clarifies and uniformly regulates the cryptocurrency market. It defines digital asset classification and specifies laws and areas of responsibility for their implementation

Users will benefit from enhanced consumer protection measures.

The framework also contains provisions to curb market abuse and insider dealing – similar to guardrails set up for traditional finance

The MiCA framework covers issuing of crypto-assets that are not already regulated by other EU financial legislation as well as providers of services related to such crypto-assets. Crypto-asset service providers will need to be authorised by a national competent authority. This will allow them to passport their services throughout the EU

Last but not least, MiCA will put in place adequate protection for all consumers as they go through authorised exchanges, wallets and trading platforms to buy, trade and transfer crypto-assets. MiCA includes a number of measures to increase transparency in crypto markets, such as publication of crypto-asset white papers that inform potential holders of the characteristics of the issued crypto-asset, the monthly publication of data on the number of tokens in circulation as well as the mandatory commissioning of independent reserve asset audits

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About Markets in Crypto Assets Regulation (MiCA)

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