EU Markets in Crypto-Assets Regulation (MiCA)
MiCA - Asset-Referenced Tokens (Title III)

EU Markets in Crypto-Assets Regulation (MiCA) MiCA-Art.41_42_43_44_45_46_47: Acquisition assessment + significant-ART regime + recovery and redemption plans (Articles 41-47)

Articles 41-42 establish the assessment of proposed acquisitions of ART issuers (qualifying holding above 10% / 20% / 30% / 50% triggers competent-authority assessment within 60 working days). Article 43 establishes the significant-ART classification (EBA classifies based on Article 43(1) cumulative criteria: large customer base over 10 million / large value over EUR 5 billion / large number of transactions over 2.5 million per day / interconnectedness / cross-border activities / significant means of exchange use). Article 44 enables voluntary classification as significant. Article 45 imposes specific additional obligations for significant-ART issuers (3% own funds, enhanced governance, additional reporting). Articles 46-47 require recovery plan + redemption plan (the redemption plan is invoked where the issuer is unable to fulfil its obligations).

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