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Crypto Asset

Crypto asset is the Market in Crypto-asset Regulation’s (MiCA’s) preferred term over the Financial Action Task Force’s (FATF’s) “virtual asset”. 

According to Article 3 of MiCA, a crypto asset refers to a  “digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology.

Examples of crypto assets*, per MiCA include: 

  • Asset-referenced tokens (ARTs

  • Electronic money tokens / e-money tokens (EMTs

  • Utility tokens 

*crypto assets previously defined / covered in Articles 2 and 4 do not fall into this category; moreover, MiCA has redefined stablecoins, this term is no longer applicable to the European Union. 

Jurisdiction-dependent, a crypto asset can also be known as a digital asset, with the DTIF favouring digital token.

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