Crypto-asset issuance

Crypto-assets non-stablecoin

  • Utility tokens
  • Crypto-assets
  • Stablecoins
  • NFTs, etc.

Crypto-assets non-stablecoin

  • Crypto-assets
  • Stablecoins

Crypto-Asset Service Providers

  • Exchanges
  • Wallet providers
  • Swaps
  • Payment facilitators etc.

The MiCA regulation applies to all crypto-assets and crypto market actors. Albeit, some are either completely exempted or may be exempted under certain conditions.

Exemptions and exceptions

  • NFTs – Non-fungible tokens are completely exempted;
  • Airdropped tokens – may be exempted under certain conditions;
  • Mining / staking rewards – may be exempted under certain conditions;
  • Utility tokens – may be exempted under certain conditions;

Key takeaways

  • MiCA – implemented in stages
  • Possible exemptions and exceptions
  • EBA urges preparation during the transitional period 10 different services for CASPs
  • Classification of crypto-assets and market actors
  • 2 types of stablecoins – EMTs and ARTs
  • 10 different services for CASPs

To ensure a smooth transition, the crypto market participants should familiarize themselves with the current regulatory framework in their home member state which is still applicable during the transitional period, and use the requirements of the MiCA regulation as a blueprint for adjusting their arrangements in accordance to the upcoming regulatory regime.

Notwithstanding narrow exemptions, all crypto-asset issuers will have to prepare a white paper, including the information about:

  • The issuer;
  • The crypto-asset project;
  • The token;
  • The underlying technology including environmental effect;
  • The associated risks;

Practice Areas

Stablecoin issuance

Planning to issue e-money or asset-referenced tokens?

  • White paper
  • Crypto-asset classification legal opinion
  • Policies
  • Governance

Crypto-asset service providers

Seeking to provide crypto-asset services?

  • Authorization
  • DeFi operations
  • Governance
  • Prudential requirements

Crypto-asset issuance

Seeking to issue crypto-assets or have them listed on an exchange?

  • Company establishment
  • White paper
  • Airdrops
  • Crypto-asset classification

Kęstutis Kvainauskas

Lawyer, attorney at law, partner of the law firm.

Contact person