1. This Regulation lays down uniform requirements for the offer to the public and admission to trading on a trading platform of crypto-assets other than asset-referenced tokens and e-money tokens, of asset-referenced tokens and of e-money tokens, as well as requirements for crypto-asset service providers.
2. In particular, this Regulation lays down the following:
(a) transparency and disclosure requirements for the issuance, offer to the public and admission of crypto-assets to trading on a trading platform for crypto-assets (‘admission to trading’);
(b) requirements for the authorisation and supervision of crypto-asset service providers, issuers of asset-referenced tokens and issuers of e-money tokens, as well as for their operation, organisation and governance;
(c) requirements for the protection of holders of crypto-assets in the issuance, offer to the public and admission to trading of crypto-assets;
(d) requirements for the protection of clients of crypto-asset service providers;
(e) measures to prevent insider dealing, unlawful disclosure of inside information and market manipulation related to crypto-assets, in order to ensure the integrity of markets in crypto-assets.
Title I: SUBJECT MATTER, SCOPE AND DEFINITIONS
Article 1
Subject matter
Related Recitals (Preamble)
Recitals provide interpretive context and policy rationale for the legislative provisions.
(1)
Digital age and DLT innovation
Summary: It is important to ensure that Union legislative acts on financial services are fit for the digital age, and contribute to a future-proof economy that works for people, including by enabling the use of innovative technologies.
(2)
Benefits of crypto-assets
Summary: Crypto-assets are one of the main applications of distributed ledger technology.
(5)
Need for harmonised EU framework
Summary: The absence of an overall Union framework for markets in crypto-assets can lead to a lack of user confidence in those assets, which could significantly hinder the development of a market in those asse...
(6)
MiCA objectives and scope
Summary: A dedicated and harmonised framework for markets in crypto-assets is therefore necessary at Union level in order to provide specific rules for crypto-assets and related services and activities that ar...