Law · European Union

MiCA: Markets in Crypto-Assets Regulation

MiCA, Regulation (EU) 2023/1114, is the EU law that licenses crypto-asset service providers and regulates issuers of asset-referenced and e-money tokens. A CASP authorised in one member state can passport its services across the EU/EEA; capital requirements are EUR 50,000 to EUR 150,000 depending on the services, and the regulation has applied in full since 30 December 2024.

Last verified 2026-09-24Markdown · Data (CC BY 4.0)
Markets in Crypto-Assets Regulation: lawMiCA§

At a glance

Official titleRegulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/19371
English titleMarkets in Crypto-Assets Regulation
CitationRegulation (EU) 2023/1114
JurisdictionEuropean Union (applies in every EU/EEA state)
Typeregulation
Adopted2023-05-31
In force from2023-06-29
StatusIn force; applies in full since 30 December 2024 (Titles III and IV since 30 June 2024). The longest transitional period for crypto-asset service providers operating under national law ended on 1 July 2026 (Art. 143(3)).

Full text

Official full text: Markets in Crypto-Assets Regulation (PDF, en)1 · 1,590 KB · file checked 2026-09-24

Official page: eur-lex.europa.eu1

Summary

MiCA is the EU-wide regime for crypto-assets that are not already financial instruments, deposits or e-money. It requires issuers of asset-referenced tokens and e-money tokens to be authorised and to publish white papers. Anyone providing crypto-asset services in the EU (custody, trading platforms, exchange, order execution, placing, reception and transmission of orders, advice, portfolio management and transfers) needs a crypto-asset service provider (CASP) authorisation from a national competent authority. An authorised CASP can passport its services across the EU/EEA. MiCA also sets prudential, conduct, custody, complaints and market-abuse rules, plus a transitional period for firms already operating under national regimes.

Summary written by the Atlas from the official text; the law itself prevails.

Main articles

  • Art. 3(1)(16): Lists the ten crypto-asset services that require authorisation.
  • Art. 16: Authorisation of issuers of asset-referenced tokens.
  • Art. 48: Only credit institutions and e-money institutions may offer e-money tokens to the public.
  • Art. 59: Crypto-asset services may be provided only by authorised CASPs or entities notified under Art. 60.
  • Art. 62-63: Content of the CASP application and the assessment: completeness check, then a 40-working-day decision.
  • Art. 65: Cross-border provision of crypto-asset services (the passport).
  • Art. 67 and Annex IV: Minimum capital of EUR 50,000, EUR 125,000 or EUR 150,000 depending on the services.
  • Art. 83-84: Prior assessment of anyone acquiring a qualifying holding in a CASP.
  • Art. 143(3): Transitional period for CASPs operating under national law, at most until 1 July 2026.

Licences it governs

Regulators that apply it

Working with Protegra

From Protegra: MiCA CASP licence application.

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. EUR-Lex: CELEX 32023R1114 · retrieved 2026-09-24

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