EU regulators introduce standardized crypto-asset classification under MiCA with a new test and guidelines to ensure uniformity across the market as regulations begin to come into play.
Regulators in the European Union have issued new guidelines allowing relevant market participants to classify cryptocurrencies and digital assets under the Markets in Crypto-Assets (MiCA) Regulation.
On July 12, three European Supervisory Authorities — the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority — released a consultation paper intended to standardize and clarify the classification of digital assets across the region.
The newly released guidelines provide a structured approach to classifying various types of crypto assets.
