EU Markets in Crypto-Assets Regulation (MiCA)
The Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114, MiCA), applicable from December 30, 2024 (with certain provisions for stablecoins effective June 30, 2024), establishes a comprehensive regulatory framework for crypto-assets within the European Union not covered by existing financial services legislation. MiCA governs the issuance and trading of crypto-assets, including requirements for white papers, authorization and supervision of issuers, rules for asset-referenced tokens and e-money tokens (stablecoins), and provisions for crypto-asset service providers (CASPs).
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Framework Domains (20)
Asset-Referenced Tokens (ARTs)
Title III: Authorization and governance for ARTs (Articles 16-47)
| Code | Title |
|---|---|
| MICA-ART16 | ART Authorization Requirement |
| MICA-ART27 | ART Issuer Conduct |
| MICA-ART32 | ART Conflicts of Interest |
| MICA-ART34 | ART Governance |
| MICA-ART35 | ART Own Funds |
| MICA-ART36 | Reserve of Assets |
| MICA-ART39 | ART Right of Redemption |
| MICA-ART40 | ART No Interest |
Authorisation
| Code | Title |
|---|---|
| MICA-ART-16 | Authorisation of issuers of asset-referenced tokens |
| MICA-ART-59 | CASP authorisation |
CASP Requirements
Crypto-asset service provider obligations
CASP Service-Specific Obligations
Title V Chapter 3: Specific requirements per service type (Articles 75-82)
| Code | Title |
|---|---|
| MICA-ART75 | Custody and Administration |
| MICA-ART76 | Trading Platform Operation |
| MICA-ART78 | Order Execution |
| MICA-ART81 | Advice and Portfolio Management |
Conduct
| Code | Title |
|---|---|
| MICA-ART-80 | Execution of orders |
Consumer protection
| Code | Title |
|---|---|
| MICA-ART-33 | Complaints handling for issuers |
| MICA-ART-71 | Complaints handling for CASPs |
Crypto-Asset Issuance
Requirements for issuing crypto-assets and stablecoins
| Code | Title |
|---|---|
| EU-MICA-CI-01 | White Paper Requirements |
| EU-MICA-CI-02 | Asset-Referenced Tokens (ARTs) |
| EU-MICA-CI-03 | E-Money Tokens (EMTs) |
Crypto-Asset Offers and White Papers
Title II: Requirements for offers to the public and admission to trading (Articles 4-15)
| Code | Title |
|---|---|
| MICA-ART13 | Right of Withdrawal |
| MICA-ART14 | Offeror Obligations |
| MICA-ART15 | White Paper Liability |
| MICA-ART4 | White Paper Obligation |
| MICA-ART6 | White Paper Content |
| MICA-ART7 | Marketing Communications |
Crypto-Asset Service Providers (CASPs)
Title V Chapters 1-2: CASP authorization and general obligations (Articles 59-74)
| Code | Title |
|---|---|
| MICA-ART59 | CASP Authorization Requirement |
| MICA-ART66 | CASP Conduct Requirements |
| MICA-ART67 | CASP Prudential Safeguards |
| MICA-ART68 | CASP Governance |
| MICA-ART70 | Client Asset Safekeeping |
| MICA-ART72 | CASP Conflicts of Interest |
Custody
| Code | Title |
|---|---|
| MICA-ART-38 | Custody of reserve assets |
| MICA-ART-70 | Safeguarding of clients' assets |
Disclosure
| Code | Title |
|---|---|
| MICA-ART-6 | White paper content and form for asset-referenced tokens |
E-Money Tokens (EMTs)
Title IV: EMT issuance requirements (Articles 48-58)
| Code | Title |
|---|---|
| MICA-ART48 | EMT Authorization |
| MICA-ART49 | EMT Par Value Redeemability |
| MICA-ART50 | EMT No Interest |
| MICA-ART54 | EMT Fund Investment |
Governance
| Code | Title |
|---|---|
| MICA-ART-34 | Conflicts of interest management |
| MICA-ART-72 | Conflicts of interest for CASPs |
Issuer authorisation
| Code | Title |
|---|---|
| MICA-ART-4 | Offer to the public of asset-referenced tokens |
Market Abuse Prevention
Title VI: Prevention and detection of market abuse (Articles 86-92)
| Code | Title |
|---|---|
| Art. 87 | Administrative Fines |
| Art. 89 | Right to privacy in video surveillance at work |
| Art. 91 | Prohibition of market manipulation |
| Art. 92 | Medical Records |
| MICA-ART88 | Inside Information Disclosure |
| MICA-ART89 | Prohibition of Insider Dealing |
| MICA-ART91 | Prohibition of Market Manipulation |
| MICA-ART92 | Market Abuse Detection |
Market conduct
| Code | Title |
|---|---|
| MICA-ART-30 | Honesty fairness and professional conduct of token issuers |
Market integrity
| Code | Title |
|---|---|
| MICA-ART-76 | Operating rules of trading platforms |
| MICA-ART-88 | Prohibition of insider dealing |
| MICA-ART-92 | Prevention and detection of market abuse |
Operations
| Code | Title |
|---|---|
| MICA-ART-73 | Outsourcing arrangements |
Prudential
| Code | Title |
|---|---|
| MICA-ART-23 | Significance assessment for asset-referenced tokens |
| MICA-ART-36 | Reserve of assets composition |
| MICA-ART-45 | Own funds requirements for issuers |
| MICA-ART-67 | Prudential safeguards for CASPs |
Supervision
| Code | Title |
|---|---|
| MICA-ART-101 | Cross border supervision and passporting |
Your Compliance Coverage
If you comply with EU Markets in Crypto-Assets Regulation (MiCA), you already cover:
TISAX — Trusted Information Security Assessment Exchange
18%
11 controls mapped
Compare →Defence Security Principles Framework (DSPF)
18%
11 controls mapped
Compare →Protective Security Policy Framework (PSPF) Release 2024
18%
11 controls mapped
Compare →+ 533 more: CSA STAR (Security, Trust, Assurance, and Risk) (18%), FTC Health Breach Notification Rule (18%)
See all 536 mapped frameworks ↓Maps to 536 other frameworks
Frequently Asked Questions
What is EU Markets in Crypto-Assets Regulation (MiCA)?
EU Markets in Crypto-Assets Regulation (MiCA) is a compliance framework from European Union with 20 domains and 60 controls. The Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114, MiCA), applicable from December 30, 2024 (with certain provisions for stablecoins effective June 30, 2024), establishes a comprehensive regulatory framework for crypto-assets within the European Union not covered by existing financial services legislation. MiCA governs the issuance and trading of crypto-assets, including requirements for white papers, authorization and supervision of issuers, rules for asset-referenced tokens and e-money tokens (stablecoins), and provisions for crypto-asset service providers (CASPs). It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does EU Markets in Crypto-Assets Regulation (MiCA) have?
EU Markets in Crypto-Assets Regulation (MiCA) has 60 controls organised across 20 domains. The largest domains are Asset-Referenced Tokens (ARTs) (8 controls), Market Abuse Prevention (8 controls), Crypto-Asset Offers and White Papers (6 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does EU Markets in Crypto-Assets Regulation (MiCA) map to?
EU Markets in Crypto-Assets Regulation (MiCA) maps to 536 other compliance frameworks. The top mapping partners are TISAX — Trusted Information Security Assessment Exchange (18% coverage), Defence Security Principles Framework (DSPF) (18% coverage), Protective Security Policy Framework (PSPF) Release 2024 (18% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with EU Markets in Crypto-Assets Regulation (MiCA) compliance?
Start your EU Markets in Crypto-Assets Regulation (MiCA) compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about EU Markets in Crypto-Assets Regulation (MiCA) requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 60 controls and track your progress.
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