Markets in Crypto Assets (MiCA)
As part of its digital finance strategy, the EU Commission introduced a proposal to regulate Markets in Crypto Assets (MiCA).
All crypto assets (virtual assets) that did not fall under pre-existing governance or regulations would fall under MiCA.
Examples include e-money, utility and asset-referenced tokens.
MiCA has 4 main objectives:
To protect consumers, investors, and market integrity,
Ensure financial stability,
Ensure legal certainty for crypto assets and,
Support fair competition and innovation.