MiCA Regulation: What Cryptoasset Businesses Need to Know

The Markets in Crypto-Assets Regulation (MiCA) is a comprehensive EU framework that regulates the issuance, trading, and custody of cryptoassets. It applies to cryptoasset service providers operating in the European Union, including those based in Slovakia.

MiCA introduces licensing requirements for cryptoasset service providers (CASPs), transparency obligations for token issuers, and consumer protection rules. CASPs must obtain authorisation from the relevant national competent authority before providing services.

For businesses operating in Slovakia, the relevant national authority and the transitional provisions under MiCA determine the timeline and requirements for compliance. Some entities may benefit from transitional periods, while others must obtain full authorisation immediately.

Key compliance areas include: capital requirements, governance and internal controls, complaint handling, asset safekeeping, and market abuse prevention. The regulation also addresses stablecoin issuance under the Electronic Money Token (EMT) and Asset-Referenced Token (ART) categories.

This article is for informational purposes only and does not constitute legal advice. Laws and official practice change. Contact GH Legal for a consultation specific to your situation.