MiCA
ComplianceMiCA (Markets in Crypto-Assets Regulation) is the European Union's comprehensive framework regulating crypto-asset issuers, stablecoins, and crypto-asset service providers.
MiCA (Regulation (EU) 2023/1114) entered into force in June 2023 and applied in phases: rules for asset-referenced and e-money tokens (stablecoins) took effect on 30 June 2024, and the remaining provisions — crypto-asset service provider (CASP) licensing, market-abuse rules, and conduct requirements — took effect on 30 December 2024.
The CASP rules are in force. A transitional "grandfathering" regime let firms that were already operating legally under national law before 30 December 2024 continue without full MiCA authorization for a limited window. That window closed no later than 1 July 2026, and several member states had set shorter ones, so the exact cutoff varied by country. Firms without a MiCA authorization can no longer rely on that transition to serve EU customers.
MiCA also sets whitepaper and disclosure duties for issuers and market-abuse rules (insider dealing, manipulation) for crypto-assets admitted to trading — bringing much of the EU crypto market under a single rulebook for the first time.
Crypto Relevance
For the coins most often linked to ISO 20022, MiCA is the EU gate that determines which exchanges can legally list and service them for EU customers, and issuers and platforms need CASP authorization to serve EU users now that the transitional windows have closed.
Related Terms
FATF Travel Rule
The FATF Travel Rule requires that originator and beneficiary information must travel with crypto transfers above USD/EUR 1,000. This entry also explains KYC and AML, the identity-verification and anti-money-laundering duties it builds on.
LEI
LEI (Legal Entity Identifier) is the 20-character ISO 17442 code that uniquely identifies legal entities in financial transactions, mandatory in most ISO 20022 messages.
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Last updated: 2026-09-29