MiCA crypto regulation
Operating principle of MiCA crypto regulation
MiCA sets uniform release, trade and maintenance rules for digital assets, as well as requirements for service providers. Such business and related services are now equivalent to financial services throughout the EU. In each EU member state, so-called National Competent Authorities, or NCAA, are introduced, that is, the digital business supervisory bodies of the particular EU member state. MiCA also focuses on certain categories of assets that are not covered by existing regulations. It should be noted that MiCA focuses on information related to owners and managers of companies that provide services for the use or maintenance of digital assets. The regulations are aimed at preventing conflict of interest, money laundering and the financing of terrorism through such assets.