EU releases crypto asset classification tool to help firms comply with MiCA
The EU regulatory agency has issued new guidelines allowing relevant market participants to classify cryptocurrencies and digital assets based on the Market in Crypto-Assets (MiCA) regulatory framework. The new guidelines provide a structured approach to classify various types of crypto assets. This includes determining whether a token falls under MiCA based on question-based prompts, such as who the issuer is, whether it is blockchain-based or whether it is a financial instrument. It also helps to determine whether the token under discussion qualifies as a standard crypto asset under MiCA, or whether it can be classified as other types of assets, such as Electronic Money Tokens (EMT) or Asset Reference Tokens (ART). ART issuers must include legal opinions in their whitepapers to clearly explain the classification of these tokens. The opinion should confirm that these tokens are neither EMTs nor any other type of crypto asset outside the scope of MiCA.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Over 92.3% Price Pump Await FLOKI Holders as the Memecoin Turned Altcoin Shows Strong Bullish Indicators
Monkey Tilt Raises $30M to Redefine Online Gaming with Crypto and Classic Casino Features
$47B in BTC may flow into Bitcoin L2s by 2030 — Galaxy Research
Mara Holdings raises $1B for Bitcoin acquisition, debt buyback