Book contents
- The EU Law on Cryptoassets
- The EU Law on Cryptoassets
- Copyright page
- Contents
- Acknowledgements
- Table of Cases
- Table of Legislation
- Abbreviations
- 1 Introduction
- 2 The Setup of Cryptoasset Schemes
- 3 Cryptoasset Regulation in the System of EU Financial Law
- 4 Scope of MiCA
- 5 Prospectus Rules under MiCA and the Prospectus Regulation
- 6 Product Regulation of Stablecoins (E-money Tokens and Asset-Referenced Tokens) in Titles III and IV MiCA
- 7 Regulation of Cryptoasset Service Providers (Title V MiCA)
- 8 Crypto Custody
- 9 Crypto Investment Funds
- 10 Market Abuse and Insider Dealing Rules (Title VI MiCA)
- 11 Supervision and Supervisory Cooperation
- 12 The Pilot Regime for DLT Market Infrastructures
- 13 Private Law of Cryptoassets
- 14 AML/CTF Legislation on Cryptoassets
- 15 Cybersecurity and Digital Operational Resilience in Decentralised Finance
- 16 Remaining Regulatory Challenges in Digital Finance and Cryptoassets after MiCA
- Bibliography
- Index
4 - Scope of MiCA
Published online by Cambridge University Press: 28 February 2025
- The EU Law on Cryptoassets
- The EU Law on Cryptoassets
- Copyright page
- Contents
- Acknowledgements
- Table of Cases
- Table of Legislation
- Abbreviations
- 1 Introduction
- 2 The Setup of Cryptoasset Schemes
- 3 Cryptoasset Regulation in the System of EU Financial Law
- 4 Scope of MiCA
- 5 Prospectus Rules under MiCA and the Prospectus Regulation
- 6 Product Regulation of Stablecoins (E-money Tokens and Asset-Referenced Tokens) in Titles III and IV MiCA
- 7 Regulation of Cryptoasset Service Providers (Title V MiCA)
- 8 Crypto Custody
- 9 Crypto Investment Funds
- 10 Market Abuse and Insider Dealing Rules (Title VI MiCA)
- 11 Supervision and Supervisory Cooperation
- 12 The Pilot Regime for DLT Market Infrastructures
- 13 Private Law of Cryptoassets
- 14 AML/CTF Legislation on Cryptoassets
- 15 Cybersecurity and Digital Operational Resilience in Decentralised Finance
- 16 Remaining Regulatory Challenges in Digital Finance and Cryptoassets after MiCA
- Bibliography
- Index
Summary
According to its “technology neutrality” principle, MiCA applies to all cryptoassets unless they qualify under other EU financial law, except for e-money tokens (EMTs) for which both MiCA and the E-money Directive (EMD) apply. Thus, Section 4.1 starts with the definition of ‘cryptoassets’, and Section 4.2 covers the exemptions from MiCA’s scope: exempted entities, the exemption for non-fungible tokens (NFTs), exemptions for assets covered by other EU financial law, and the exemption for fully decentralised services. Section 4.3 discusses MiCA’s geographical scope, and Section 4.4 provides an in-depth analysis of the difficult interface towards other EU financial law. Section 4.5 explains MiCA’s approach to addressing this difficult scope issue, and Section 4.6 concludes.
- Type
- Chapter
- Information
- The EU Law on Crypto-AssetsA Guide to European FinTech Regulation, pp. 40 - 60Publisher: Cambridge University PressPrint publication year: 2025