Chapter 647

In short

This law establishes a framework for crypto-assets, including asset-referenced tokens, e-money tokens, and other crypto-assets, and sets requirements for crypto-asset service providers. Its main goal is to implement the relevant provisions of the MiCA Regulation (EU) 2023/1114.

What it regulates

• Offers to the public of asset-referenced tokens, e-money tokens, and other crypto-assets.
• Admission to trading of these crypto-assets on a trading platform.
• Requirements applicable to crypto-asset service providers.
• Prevention and prohibition of market abuse related to crypto-assets.

Who it concerns

• Issuers and offerors of asset-referenced tokens, e-money tokens, and other crypto-assets.
• Crypto-asset service providers.

Key points

• The law implements Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA Regulation).
• It does not apply to crypto-assets that are unique and not fungible with other crypto-assets.
• It does not apply to crypto-assets that qualify as financial instruments, deposits, or funds (unless they are e-money tokens).
• In case of conflict, the provisions of the MiCA Regulation prevail over this Act.