MiCA
Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets (MiCA) · st:mica
Primary text ↗Verified
Dates
2023-06-29 source
In force from
Key provisions
8 in the graphThe article’s own text, quoted verbatim from the primary source below — a citable fact, not a summary. No plain-English explanation is shown: writing one would be legal analysis nobody sourced (docs/RULES.md R1). That register is reserved should sourced explanations be added later, and will never share this card’s styling.
Article 3(1), point 16 (Definition of "crypto-asset service")
prov:mica-art3-1-16
ARTICLE TEXT — VERBATIM, TIER B
'crypto-asset service' means any of the following services and activities relating to any crypto-asset: (a) providing custody and administration of crypto-assets on behalf of clients; (b) operation of a trading platform for crypto-assets; (c) exchange of crypto-assets for funds; (d) exchange of crypto-assets for other crypto-assets; (e) execution of orders for crypto-assets on behalf of clients; (f) placing of crypto-assets; (g) reception and transmission of orders for crypto-assets on behalf of clients; (h) providing advice on crypto-assets; (i) providing portfolio management on crypto-assets; (j) providing transfer services for crypto-assets on behalf of clients; source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Grants (in the graph) Provide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets, Exchange crypto-assets for funds, Exchange crypto-assets for other crypto-assets, Execute orders for crypto-assets on behalf of clients, Place crypto-assets, Receive and transmit orders for crypto-assets on behalf of clients, Provide advice on crypto-assets, Provide portfolio management on crypto-assets, Provide transfer services for crypto-assets on behalf of clients
Article 65 (Cross-border provision of crypto-asset services)
prov:mica-art65
ARTICLE TEXT — VERBATIM, TIER B
A crypto-asset service provider that intends to provide crypto-asset services in more than one Member State shall submit the following information to the competent authority of the home Member State: (a) a list of the Member States in which the crypto-asset service provider intends to provide crypto-asset services; (b) the crypto-asset services that the crypto-asset service provider intends to provide on a cross-border basis; (c) the starting date of the intended provision of the crypto-asset services; (d) a list of all other activities provided by the crypto-asset service provider not covered by this Regulation. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Article 67(1) (Prudential requirements)
prov:mica-art67
ARTICLE TEXT — VERBATIM, TIER B
Crypto-asset service providers shall, at all times, have in place prudential safeguards equal to an amount of at least the higher of the following: (a) the amount of permanent minimum capital requirements indicated in Annex IV, depending on the type of the crypto-asset services provided; (b) one quarter of the fixed overheads of the preceding year, reviewed annually. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Backs requirement minimumCapital
Annex IV (Minimum capital requirements for crypto-asset service providers)
prov:mica-annexiv
ARTICLE TEXT — VERBATIM, TIER B
Class 1: Crypto-asset service provider authorised for the following crypto-asset services: execution of orders on behalf of clients; placing of crypto-assets; providing transfer services for crypto-assets on behalf of clients; reception and transmission of orders for crypto-assets on behalf of clients; providing advice on crypto-assets; and/or providing portfolio management on crypto-assets. Minimum capital requirement: EUR 50 000.
Class 2: Crypto-asset service provider authorised for any crypto-asset services under class 1 and: providing custody and administration of crypto-assets on behalf of clients; exchange of crypto-assets for funds; and/or exchange of crypto-assets for other crypto-assets. Minimum capital requirement: EUR 125 000.
Class 3: Crypto-asset service provider authorised for any crypto-asset services under class 2 and: operation of a trading platform for crypto-assets. Minimum capital requirement: EUR 150 000. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Backs requirement minimumCapital
Article 59 (Authorisation)
prov:mica-art59
ARTICLE TEXT — VERBATIM, TIER B
A person shall not provide crypto-asset services, within the Union, unless that person is: (a) a legal person or other undertaking that has been authorised as crypto-asset service provider in accordance with Article 63; or (b) a credit institution, central securities depository, investment firm, market operator, electronic money institution, UCITS management company, or an alternative investment fund manager that is allowed to provide crypto-asset services pursuant to Article 60. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Article 60 (Provision of crypto-asset services by certain financial entities)
prov:mica-art60
ARTICLE TEXT — VERBATIM, TIER B
A credit institution may provide crypto-asset services if it notifies the information referred to in paragraph 7 to the competent authority of its home Member State at least 40 working days before providing those services for the first time. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Article 62 (Application for authorisation as a crypto-asset service provider)
prov:mica-art62
ARTICLE TEXT — VERBATIM, TIER B
Legal persons or other undertakings that intend to provide crypto-asset services shall submit their application for an authorisation as a crypto-asset service provider to the competent authority of their home Member State. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Article 63 (Assessment of the application and grant or refusal of authorisation)
prov:mica-art63
ARTICLE TEXT — VERBATIM, TIER B
Competent authorities shall promptly, and in any event within five working days of receipt of an application under Article 62(1), acknowledge receipt thereof in writing to the applicant crypto-asset service provider. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
National regimes implementing it
30 regimesOne statute, implemented differently by each regime below — the same directive granting different activities, client types and capital figures market by market.
WhereAuthorityRegimeCapital · transitionFirms
DEBaFinMiCA CASP / GermanyProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data10
FRAMF (France)MiCA CASP / FranceProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data8
NLAutoriteit Financiële MarktenMiCA CASP / NetherlandsProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data20
IECentral Bank of IrelandMiCA CASP / IrelandProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data7
LTBank of LithuaniaMiCA CASP / LithuaniaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data3
LUCSSFMiCA CASP / LuxembourgProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data14
MTMFSAMiCA CASP / MaltaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data18
BEFSMA (Belgium)MiCA CASP / BelgiumProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
ESCNMVMiCA CASP / SpainProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
ITConsobMiCA CASP / ItalyProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
PLKNFMiCA CASP / PolandProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
SEFinansinspektionenMiCA CASP / SwedenProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
DKFinanstilsynet (Denmark)MiCA CASP / DenmarkProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
EEFinantsinspektsioonMiCA CASP / EstoniaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
CYCySECMiCA CASP / CyprusProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
ATFMA (Financial Market Authority Austria)MiCA CASP / AustriaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
BGFinancial Supervision Commission (FSC)MiCA CASP / BulgariaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
HRHrvatska agencija za nadzor financijskih usluga (HANFA)MiCA CASP / CroatiaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
CZCzech National Bank (CNB)MiCA CASP / CzechiaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
FIFinancial Supervisory Authority (FIN-FSA / Finanssivalvonta)MiCA CASP / FinlandProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
GRHellenic Capital Market Commission (HCMC)MiCA CASP / GreeceProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
HUMagyar Nemzeti Bank (MNB)MiCA CASP / HungaryProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
ISFinancial Supervisory Authority of the Central Bank of Iceland (FME)MiCA CASP / IcelandProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
LVLatvijas BankaMiCA CASP / LatviaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
LIFinanzmarktaufsicht Liechtenstein (FMA Liechtenstein)MiCA CASP / LiechtensteinProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
NOFinanstilsynet (Financial Supervisory Authority of Norway)MiCA CASP / NorwayProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
PTComissão do Mercado de Valores Mobiliários (CMVM)MiCA CASP / PortugalProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
ROAutoritatea de Supraveghere Financiară (ASF)MiCA CASP / RomaniaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
SKNárodná banka Slovenska (NBS)MiCA CASP / SlovakiaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
SIAgencija za trg vrednostnih papirjev (ATVP)MiCA CASP / SloveniaProvide custody and administration of crypto-assets on behalf of clients, Operate a trading platform for crypto-assets +8EUR 50,000–150,000 sourceno data0
Sources
Article 3(1), point 16 (Definition of "crypto-asset service") · Article 65 (Cross-border provision of crypto-asset services) · Article 67(1) (Prudential requirements) · Annex IV (Minimum capital requirements for crypto-asset service providers)Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets (MiCA)http://publications.europa.eu/resource/celex/32023R1114.ENG
Article 59 (Authorisation) · Article 60 (Provision of crypto-asset services by certain financial entities) · Article 62 (Application for authorisation as a crypto-asset service provider) · Article 63 (Assessment of the application and grant or refusal of authorisation)Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets (MiCA)https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114
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