Complete guide to the Markets in Crypto-Assets Regulation — stablecoins, CASPs, token issuance, and market integrity.
The Markets in Crypto-Assets Regulation (EU) 2023/1114 is the EU's comprehensive framework for regulating crypto-assets not covered by existing financial services legislation. It covers asset-referenced tokens (stablecoins), e-money tokens, and other crypto-assets (utility tokens). It establishes authorisation and conduct requirements for crypto-asset service providers (CASPs). It entered into force in June 2023, with stablecoin provisions applying from June 2024 and full application from December 2024.
Issuers of crypto-assets (stablecoins, utility tokens) and crypto-asset service providers (custody, exchange, trading platforms, portfolio management, advisory) operating in the EU or providing services to EU clients. Excludes truly unique NFTs, fully decentralised DeFi protocols, and crypto-assets already regulated under MiFID II.
Article 1
Article 3
Article 4
Article 6
Article 16
Article 48
Article 59
Article 67
Article 86
Article 92
Entered into force
29 Jun 2023MiCA became EU law.
Stablecoin provisions
30 Jun 2024Rules for asset-referenced and e-money tokens became applicable.
Full application
30 Dec 2024All MiCA provisions, including CASP authorisation, fully applicable.
Up to €5M or 12.5% of annual turnover for CASPs. Member States determine detailed penalty frameworks.
MiCA distinguishes between three categories of crypto-assets, each with different regulatory requirements.
Crypto-asset service providers must obtain authorisation and comply with conduct-of-business rules.
Law4Devs provides the full MiCA regulation as structured JSON. Filter by crypto-asset type, entity type, or obligation category. Cross-reference with DORA and PSD2.
GET /v1/frameworks/mica/articles → 200 OK · structured JSON · official EUR-Lex source
The Markets in Crypto-Assets Regulation (EU) 2023/1114 is the EU's comprehensive framework for regulating crypto-assets not covered by existing financial services legislation. It covers three categories: asset-referenced tokens (ARTs, commonly called stablecoins), e-money tokens (EMTs), and other crypto-assets (including utility tokens). MiCA also establishes authorisation and conduct requirements for crypto-asset service providers (CASPs). It entered into force in June 2023, with provisions applying in stages from June 2024 (stablecoins) and December 2024 (full application).
MiCA applies to issuers of crypto-assets (including stablecoins and utility tokens) and crypto-asset service providers (CASPs) offering services such as custody, exchange, trading platforms, portfolio management, transfer, advisory, and order execution for crypto-assets. It applies to entities operating in the EU or providing services to EU clients. Notably, MiCA excludes NFTs that are truly unique, DeFi protocols that are fully decentralised, and crypto-assets already regulated as financial instruments under MiFID II.
Issuers must publish a white paper, maintain reserves (for ARTs/EMTs), and comply with governance requirements. EMT issuers must be authorised as credit institutions or electronic money institutions. ARTs with significant market impact face stricter prudential requirements. CASPs must obtain authorisation from their national competent authority and comply with conduct of business rules, AML/CFT requirements, and market abuse prohibitions. Fines for CASPs can reach up to EUR 5 million or 12.5% of annual turnover.
Law4Devs provides the full MiCA regulation as structured JSON via API. Filter by crypto-asset type (ART, EMT, utility token), entity type (issuer, CASP), or obligation category. Access specific provisions on white paper requirements, reserve rules, authorisation procedures, and market abuse prohibitions. Cross-reference with DORA for ICT resilience requirements applicable to CASPs and with PSD2 for payment-related crypto services.
All articles, recitals, and amendments — queryable, filterable, and always up to date.