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RECITALS 1 - 119
TITLE I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Art. 1 - 3)
Overview
Article 1
Article 2
Article 3
TITLE II - CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS (Art. 4 - 15)
Overview
Article 4
Article 5
Article 6
Article 7
Article 8
Article 9
Article 10
Article 11
Article 12
Article 13
Article 14
Article 15
TITLE III - ASSET-REFERENCED TOKENS (Art. 16 - 47)
Overview
CHAPTER 1
Overview
Article 16
Article 17
Article 18
Article 19
Article 20
Article 21
Article 22
Article 23
Article 24
Article 25
Article 26
CHAPTER 2
Overview
Article 27
Article 28
Article 29
Article 30
Article 31
Article 32
Article 33
Article 34
Article 35
CHAPTER 3
Overview
Article 36
Article 37
Article 38
Article 39
Article 40
CHAPTER 4
Overview
Article 41
Article 42
CHAPTER 5
Overview
Article 43
Article 44
Article 45
CHAPTER 6
Overview
Article 46
Article 47
TITLE IV - E-MONEY TOKENS (Art. 48 - 48)
Overview
CHAPTER 1
Overview
Article 48
Article 49
Article 50
Article 51
Article 52
Article 53
Article 54
Article 55
CHAPTER 2
Overview
Article 56
Article 57
Article 58
TITLE V - AUTHORISATION AND OPERATING CONDITIONS FOR CRYPTO-ASSET SERVICE PROVIDERS (Art. 59 - 85)
Overview
CHAPTER 1
Overview
Article 59
Article 60
Article 61
Article 62
Article 63
Article 64
Article 65
CHAPTER 2
Overview
Article 66
Article 67
Article 68
Article 69
Article 70
Article 71
Article 72
Article 73
Article 74
CHAPTER 3
Overview
Article 75
Article 76
Article 77
Article 78
Article 79
Article 80
Article 81
Article 82
CHAPTER 4
Overview
Article 83
Article 84
CHAPTER 5
Overview
Article 85
TITLE VI - PREVENTION AND PROHIBITION OF MARKET ABUSE INVOLVING CRYPTO-ASSETS (Art. 86 - 92)
Overview
Article 86
Article 87
Article 88
Article 89
Article 90
Article 91
Article 92
TITLE VII - COMPETENT AUTHORITIES, EBA AND ESMA (Art. 93 - 138)
Overview
CHAPTER 1
Overview
Article 93
Article 94
Article 95
Article 96
Article 97
Article 98
Article 99
Article 100
Article 101
Article 102
Article 103
Article 104
Article 105
Article 106
Article 107
Article 108
CHAPTER 2
Overview
Article 109
Article 110
Article 110a
CHAPTER 3
Overview
Article 111
Article 112
Article 113
Article 114
Article 115
Article 116
CHAPTER 4
Overview
Article 117
Article 118
Article 119
Article 120
CHAPTER 5
Overview
Article 121
Article 122
Article 123
Article 124
Article 125
Article 126
Article 127
Article 128
Article 129
Article 130
Article 131
Article 132
Article 133
Article 134
Article 135
Article 136
Article 137
Article 138
TITLE VIII - DELEGATED ACTS (Art. 139)
Overview
Article 139
TITLE IX - TRANSITIONAL AND FINAL PROVISIONS (Art. 140 - 149)
Overview
Article 140
Article 141
Article 142
Article 143
Article 144
Article 145
Article 146
Article 147
Article 148
Article 149
ANNEX I
ANNEX II
ANNEX III
ANNEX IV
ANNEX V
ANNEX VI
EU Level
Overview
Overview
Overview
Overview
Overview
2024/1503 — EBA Supervisory Fees
2024/1504 — EBA Fines Procedure
2024/1506 — ART/EMT Significance
2024/1507 — Product Intervention
2025/292 — Third-Country Cooperation
2025/293 — ART Complaints Handling
2025/294 — CASP Complaints Handling
2025/296 — ART White Paper Approval
2025/297 — Supervisory Colleges
2025/299 — CASP Service Continuity
2025/300 — Competent Authority Info
2025/303 — Financial Entity Notification
2025/305 — CASP Authorisation Info
2025/413 — ART Qualifying Holdings Info
2025/414 — CASP Qualifying Holdings
2025/416 — Order Book Records
2025/417 — Trading Platform Transparency
2025/421 — White Paper Classification
2025/422 — Sustainability Indicators
2025/885 — Market Abuse STOR
2025/1125 — ART Authorisation Info
2025/1140 — CASP Record-Keeping
2025/1142 — CASP Conflicts of Interest
2025/1264 — Liquidity Management Policy
Draft RTS — Crypto Exposure Values
Draft RTS — Highly Liquid Reserve
Draft RTS — Non-EU Currency Exchange
Draft RTS — Own Funds & Stress Test
Draft RTS — Own Funds Procedure
Draft RTS — Remuneration Policy
Draft RTS — Reserve Asset Liquidity
Overview
2024/2494 — ESA Cooperation Exchange
2024/2545 — NCA Cooperation Exchange
2024/2861 — Inside Information Disclosure
2024/2902 — Non-EU Currency Reporting
2024/2984 — White Paper Format
2025/304 — Financial Entity Notification
2025/306 — CASP Authorisation Forms
2025/1126 — ART Authorisation Forms
Overview
ESMA75-453128700-1278 — Market Abuse Detection
ESMA18-72330276-1634 — First Technical Standards Package
ESMA75-453128700-1229 — Second Technical Standards Package
ESMA75-453128700-949 — Cooperation Information Exchange
EBA/RTS/2024 — Crypto Exposure Values
EBA/RTS/2024 — Own Funds & Stress Testing
EBA/RTS/2024/11 — Highly Liquid Reserve Assets
EBA/RTS/2024/10 — Reserve Asset Liquidity
EBA/RTS/2024 — Remuneration Policy Governance
EBA/RTS/2024 — Own Funds Adjustment
EBA/RTS/2024 — Non-EU Currency Exchange
EBA/RTS/2024 and EBA/ITS/2024 — ART Authorisation Information
Overview
JC 2024/28 — Crypto Classification Test
ESMA35-1872330276-2030 — Reverse Solicitation Guidelines
ESMA75-453128700-1323 — Crypto-Asset Financial Instruments
ESMA35-1872330276-1936 — Investor Protection Requirements
ESMA75-223375936-6132 — Systems & Security Access
ESMA35-1872330276-2032 — CASP Transfer Services
ESMA75-453128700-1039 — Market Abuse Supervisory Practices
EBA/GL/2024/06 — ART Internal Governance
ESMA35-24871704-2922 — Knowledge & Competence Assessment
EBA/GL/2024/08 — Liquidity Stress Testing
EBA/GL/2024/07 — Issuer Recovery Plans
EBA/GL/2024/13 — Issuer Redemption Plans
EBA/GL/2024/16 — ART Supervisory Reporting
EBA/GL/2024/16 — CASP Supervisory Reporting
EBA/GL/2024/09 — Qualifying Holder Suitability
EBA/GL/2024/09 — Management Body Suitability
ESMA35-1872330276-2031 — Suitability and Periodic Statement
Overview
Overview
Overview
EBA Annex 4 — ART/EMT Templates
EBA DC/558 — Significance Procedure
README
IOSCO DeFi Policy Recommendations
Overview
EBA Opinion — RTS Conflicts of Interest
EBA Opinion — PSD2 / MiCA Interplay
Overview
EBA Explainer — MiCAR Templates
Overview
EBA Advice — MiCAR Significance & Fees
Joint EBA/ESMA Report — Recent Developments in Crypto-Assets (Art. 142 MiCAR)
EBA Report — Tokenised Deposits
EBA Statement — Application of MiCAR to ARTs and EMTs
Joint EBA/ESMA — Crypto Lending/Staking
Joint EBA/ESMA Factsheet — DeFi
EBA Priorities — ART/EMT Issuers 2024
ESMA Supervisory Briefing — CASP Authorisation
ESMA Statement — MiCA Data Standards and Format Requirements
ESMA Statement — MiCA Transitional Measures
EBA Priorities 2026 — ART/EMT Issuers
Overview
EMT issuers: AML/KYC obligations
EMT exchange: crypto or funds?
White paper obligation for Article 16(2) exempt ART issuers
Passporting procedure for non-CI ART issuers
CI/EMI passporting for ART/EMT
Lightning Network: TFR/Travel Rule scope for CASPs
ART/EMT: scope of public offering
Staking-as-a-service coverage
AML CASPs: grandfathering
Art. 60 transitional provision
AML CASPs: simplified authorisation
Transfer: standalone or ancillary
Tied agents: notification
Proprietary trading by CASPs
Natural persons/trusts as CASPs
Registered AIFMs: MiCA auth
Services for non-compliant ARTs/EMTs
Auto/copy trading scope
Commingling client assets
Shared order book model
Exchange vs execution services
Title II tokens: white paper
CASP group structure: holding company
Modified white papers: XBRL format
Overview
Overview
CASP: non-EUR EMT trading
ART reserve: bail-in eligibility
MiCAR vs CRD: recovery plan info
EMT parallel issuance: EU and non-EU
Scope of Recital 54 and Article 54 — significance classification
Gold tokens as ARTs
Own funds for ART issuers exempt from authorisation
PSD2 applicability to EMT issuance/redemption
EMT issuance: bank segregated account
Own funds: overlapping CASP/EMI/IF authorisations
PPAETs: personal scope for market abuse
Overview
Targeted MiCA Review Consultation
Overview
National Adaptations
Overview
Grandfathering table
Austria
Overview
Austria — MiCA
FMA
Belgium
Overview
Belgium — MiCA
FSMA
Bulgaria
Overview
Bulgaria — MiCA
FSC
Cyprus
Overview
Cyprus — MiCA
CySEC
Overview
CySEC C654: Article 60 Notification
CySEC C675: ToFR Reporting Obligations
CySEC C713: ESMA Guidelines (Transfer/Reverse/Suitability)
CySEC C714: Joint ESAs Templates & Test
CySEC C715: Financial Instrument Qualification
CySEC C722: EBA Opinion PSD/MiCA Interplay
CySEC C756: CBC PSD2/MiCA Announcement
CySEC Directive DI 73-2009-04: Crypto Fees
CySEC: MiCA Legislation Hub
CySEC: MiCA Overview
CySEC: MiCA Deadline 27 Feb 2026
CySEC PS-03-2024: MiCAR Fees
Czechia
Overview
Czechia — MiCA
CNB
Germany
Overview
Germany — MiCA
BaFin
Overview
BaFin Merkblatt: Crypto Services (DE)
BaFin: Crypto Services under MiCAR
Denmark
Overview
Denmark — MiCA
DFSA
Overview
DFSA: DeFi & MiCA Offering Exemptions
Estonia
Overview
Estonia — MiCA
Finantsinspektsioon
Spain
Overview
Spain — MiCA
CNMV
Finland
Overview
Finland — MiCA
FIN-FSA
France
Overview
France — MiCA
AMF
Overview
AMF DeFi Discussion Paper
AMF: DASP/PSAN Registration
AMF DeFi — Response Summary
AMF DOC-2025-01: Notification offre publique (FR)
AMF: MiCA Thematic Dossier
AMF: PSAN Transition Deadline July 2026
AMF: Title II Notification Procedure
AMF: Warnings and Blacklists
AMF Webinaire: PSAN vers PSCA (FR)
Greece
Overview
Greece — MiCA
HCMC
Croatia
Overview
Croatia — MiCA
HANFA
Hungary
Overview
Hungary — MiCA
MNB
Ireland
Overview
Ireland — MiCA
CBI
Overview
CBI: ART/EMT Issuer Guidance
CBI: ART Key Facts Document
CBI: CASP Application Form (Art. 62)
CBI: CASP Portal Submission
CBI: CASP Key Facts Document
CBI: MiCAR Overview
CBI: STOR Form (Art. 92)
CBI: Title II White Paper Submission
Iceland
Overview
Iceland — MiCA
FME
Italy
Overview
Italy — MiCA
CONSOB
Banca d'Italia
Liechtenstein
Overview
Liechtenstein — MiCA
FMA Liechtenstein
Lithuania
Overview
Lithuania — MiCA
Lietuvos bankas
Luxembourg
Overview
Luxembourg — MiCA
CSSF
Overview
CSSF: Article 60 Notification Form
CSSF: CASP Application Form (Art. 62)
CSSF: CASP Authorisation
CSSF 25/875: Suitability Assessment
CSSF 25/888: Transfer Services
CSSF 25/890: Article 97 Classification
CSSF 25/891: Portfolio Management Suitability
CSSF 26/909: Knowledge and Competence
CSSF: Crypto-Assets Overview
CSSF: MiCAR Framework
Latvia
Overview
Latvia — MiCA
Latvijas Banka
Malta
Overview
Malta — MiCA
MFSA
Overview
MFSA: MiCA Authorisation Circular
MFSA: MiCA Rulebook Issuance Circular
MFSA: MiCA Act Publication Circular
MFSA: MiCA XBRL Taxonomy Circular
MFSA: Follow-Up Authorisation Circular
MFSA: MiCA Implementation & Guidelines
MFSA: What MiCA Means for Malta
MFSA: MiCA Rulebook
Netherlands
Overview
Netherlands — MiCA
DNB
Overview
DNB: ART/EMT Issuer Authorisation
DNB: CASP Prudential Supervision
DNB: DNO MiCAR Arts 41 & 83
DNB: FINREP EMT/ART Reporting
DNB: MiCAR Hub
DNB: MiCAR Suitability Matrix
DNB: Supervisory Applications Service
AFM
Overview
AFM: CASP Forms
AFM: CASP Good Practices
AFM: CASP Licence Procedure
AFM: CASP Pre-Scan
AFM: Crypto FAQ
AFM: MiCAR Role Overview
AFM: CASP Reporting
AFM: Transition Period Update
AFM: White-Paper Notification
AFM: Wwft/Sanctions Questionnaire
Norway
Overview
Norway — MiCA
Finanstilsynet
Poland
Overview
Poland — MiCA
KNF
Portugal
Overview
Portugal — MiCA
CMVM
Romania
Overview
Romania — MiCA
ASF
Sweden
Overview
Sweden — MiCA
Finansinspektionen
Slovenia
Overview
Slovenia — MiCA
ATVP
Slovakia
Overview
Slovakia — MiCA
NBS
Definitions
aifmd
AIFMD Definitions
alternative investment fund
alternative investment fund manager
crr
CRR Definitions
credit institution
investment firm
dgsd
DGSD Definitions
deposit
dora
DORA Definitions
account information service provider
administrator of critical benchmarks
ancillary insurance intermediary
central counterparty
central securities depository
credit institution
credit rating agency
critical ICT third-party service provider
critical or important function
crowdfunding service provider
crypto-asset service provider
cyber-attack
cyber threat
data reporting service provider
digital operational resilience
electronic money institution
electronic money institution exempted pursuant to Directive 2009/110/EC
group
ICT asset
ICT concentration risk
ICT intra-group service provider
ICT-related incident
ICT risk
ICT services
ICT subcontractor established in a third country
ICT third-party risk
ICT third-party service provider
ICT third-party service provider established in a third country
information asset
institution exempted pursuant to Directive 2013/36/EU
institution for occupational retirement provision
insurance intermediary
insurance undertaking
investment firm
issuer of asset-referenced tokens
Joint Committee
Lead Overseer
legacy ICT system
major ICT-related incident
major operational or security payment-related incident
management body
management company
manager of alternative investment funds
medium-sized enterprise
microenterprise
network and information system
operational or security payment-related incident
parent undertaking
payment institution
payment institution exempted pursuant to Directive (EU) 2015/2366
public authority
reinsurance intermediary
reinsurance undertaking
securitisation repository
security of network and information systems
significant cyber threat
small and non-interconnected investment firm
small enterprise
small institution for occupational retirement provision
subsidiary
threat intelligence
threat-led penetration testing (TLPT)
trade repository
trading venue
vulnerability
emd2
EMD2 Definitions
electronic money
electronic money institution
gdpr
GDPR Definitions
personal data
mica
MiCA Definitions
alternative investment fund manager
applicant issuer
asset-referenced token
client
close links
competent authority
consensus mechanism
credit institution
crypto-asset
crypto-asset service
crypto-asset service provider
deposit
distributed ledger
distributed ledger technology
DLT network node
electronic money
electronic money institution
electronic money token
exchange of crypto-assets for funds
exchange of crypto-assets for other crypto-assets
execution of orders for crypto-assets on behalf of clients
financial instrument
funds
home Member State
host Member State
investment firm
issuer
management body
matched principal trading
offer to the public
offeror
official currency
online interface
operation of a trading platform for crypto-assets
payment institution
payment service provider
payment services
personal data
placing of crypto-assets
providing advice on crypto-assets
providing custody and administration of crypto-assets on behalf of clients
providing portfolio management of crypto-assets
providing transfer services for crypto-assets on behalf of clients
qualified investors
qualifying holding
reception and transmission of orders for crypto-assets on behalf of clients
reserve of assets
retail holder
structured deposit
UCITS management company
utility token
mifid-ii
MiFID II Definitions
close links
financial instrument
investment firm
matched principal trading
qualified investors
structured deposit
psd2
PSD2 Definitions
funds
payment institution
payment service provider
payment services
tofr
ToFR Definitions
batch file transfer
beneficiary
crypto-asset
crypto-asset account
crypto-asset automated teller machines
crypto-asset service provider
distributed ledger address
distributed ledger technology
funds
intermediary crypto-asset service provider
intermediary payment service provider
legal entity identifier
money laundering
originator
payee
payer
payment account
payment service provider
person-to-person transfer of crypto-assets
self-hosted address
terrorist financing
transfer of crypto-assets
transfer of funds
unique transaction identifier
ucits
UCITS Definitions
management company
Blog
Am I A Crypto-Asset Service Provider And If Yes, How Many?
AML Obligations of Crypto Service Providers in the EU
What is Crypto Law?
Docs
Adding a New NCA Section — Contributor Playbook
mica.wtf Content Freshness Strategy
mica.wtf freshness coverage
MiCA document status: freshness and conventions
operations
Cross-agent failover template
mica.wtf restore runbook
ToFR Issue #024 Accuracy Review
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TITLE III - ASSET-REFERENCED TOKENS (Art. 16 - 47)
TITLE III - ASSET-REFERENCED TOKENS (Art. 16 - 47)
Section titled “TITLE III - ASSET-REFERENCED TOKENS (Art. 16 - 47)”