MiCA Potential Solution

MiCA COULD provide a PAN EUROPEAN legal Framework

MiCA COULD stop CASP ostracism by banks

MiCA COULD provide an huge PAN EUROPEAN  Market opportunity like eIDAS did for Trust Services Providers

MiCA COULD give  market integrity and provide consumers and investors with appropriate levels of protection and a clear understanding of their rights 

MiCA WILL for sure try to maintain  financial stability by  keeping STABLE COINS under a STRICT regulation.

Will MiCA affect my project ?

MiCA imposes an obligation on issuers of crypto-assets to publish an information document (called whitepaper) with mandatory disclosure requirements. 

Small and medium-sized enterprises (SMEs) will be exempted where the total consideration of the offering of crypto-assets is less than €1,000,000 over a period of 12 months. 

Issuers of ‘stablecoins’ will not be subject to authorisation by a national competent authority (NCA) if the outstanding amount of ’stablecoins’ is below €5,000,000. 

MiCA is organized in eight  titles (chapters):

1. Title I sets the subject matter, the scope and the definitions. 
2. Title II regulates the CASP offerings and marketing of crypto-assets to the public.
3. Title III Requirements for issuers of asset-backed stablecoins
4. Title IV Requirements and procedures for issuers fiat backed stablecoin (e-money)
5. Title V Provisions on authorisation and operating conditions for CASPs.
6. Title VI prohibitions and requirements to prevent crypto-assets market abuse.
7. Title VII provides  the power to national competent authorities: ESMA and EBA
8. Title VIII deals with the delegation acts  implementation of the Act

Title I subject, the scope and the definitions.

Article 1 Subject Matter

This Regulation establishes uniform requirements for the following:

• transparency and disclosure requirements for the issuance and admission to trading of crypto-assets;
• the authorisation and supervision of crypto-asset service providers and issuers of asset-referenced tokens and electronic money tokens;
• the operation, organisation and governance of issuers of asset-referenced tokens, issuer of electronic money tokens and crypto-asset service providers;
• consumer protection rules for the issuance, trading, exchange and custody of crypto-assets;
• measures to prevent market abuse to ensure the integrity of crypto-asset markets

Article 2 Scope and exemptions

1. This regulation applies to entities engaged in the issuance of crypto-assets and services related to crypto-assets in the Union.
2. This Regulation shall not apply to crypto-assets that qualify as:

• financial instruments 
• electronic money 
• deposits  and structured deposits 
• securitisation 

3. This regulation shall not apply to the following entities and persons:

• the European Central Bank and national central banks as monetary public authority 
• insurance  carrying out the reinsurance and retrocession activities 
• liquidator or an administrator acting in the course of insolvency procedure
• persons who provide crypto-asset services exclusively for their parent companies, for their subsidiaries or for other subsidiaries of their parent companies;
• the European investment bank;
• the European Financial Stability Facility and the European Stability Mechanism;
• Public international organisations.

4. This regulation shall not apply to the following entities  

• credit institutions for  issuing asset-referenced tokens 
• credit institutions for providing crypto-asset services  
• investment firms where they provide one or several crypto-asset services equivalent to the investment services and activities for which they are authorised
• payment institutions  for providing crypto-asset services