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European Commission Introduces Draft Regulation for Markets in Crypto Assets (MiCA)
3 November 2020
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The European Commission introduced a draft of a regulation of markets for crypto assets ("MiCA") that do not constitute financial instruments.
MiCA will in particular regulate the licensing and other obligations of issuers of asset- referenced tokens, e-money tokens and utility tokens.
Providers of crypto asset services will also be subject to licensing and ongoing obligations.
MiCA also provides for a passporting regime that allows offering and admission to trading of tokens and provision of crypto asset services throughout European Union.
Anna V. Maximenko
Gary E. Murphy
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