MiCA
MiCA is the EU regulation that has set uniform rules for crypto-assets, their issuers and service providers across all member states since 2024.
Explained simply
Until 2024 every EU country had its own rules for crypto providers, some none at all. MiCA ("Markets in Crypto-Assets") creates a common framework: anyone issuing, trading or holding crypto-assets needs a licence and must meet obligations.
For stablecoins the rules have applied since mid-2024, for service providers such as exchanges and custodians since late 2024 with transition periods. Issuers must publish a whitepaper with mandatory disclosures; providers must hold client assets separately.
Not yet fully covered are decentralised applications without an operator (DeFi) and NFTs that are genuine one-offs.
From the familiar world
Like MiFID for securities: a Europe-wide rulebook defining who may offer what, which information clients receive and how their assets are protected. MiCA is the MiFID of the crypto world.
An example
A crypto exchange with a MiCA licence in Germany may offer its services in all EU countries via "passporting", just as a bank with a German licence may operate in France.
Why it matters
MiCA is the strongest argument against the objection "crypto is unregulated". In the EU that has not been true since 2024. For advisers, "Does the provider have a MiCA licence?" is the quickest credibility check.
To pass on
„MiCA is MiFID for crypto: since 2024 uniform rules apply across the EU on who may offer what and how clients are protected.“
The content of this wiki is for general information and educational purposes only. It does not constitute investment advice, an investment recommendation or tax or legal advice. Digital assets are subject to strong price fluctuations and can lead to losses up to a total loss. Content as of 2026, no guarantee of completeness or timeliness.
21 Oaks Capital GmbH acts as a tied agent exclusively for the account and under the liability of AHP Capital Management GmbH, Weißfrauenstraße 12-16, 60311 Frankfurt am Main, Germany. This wiki is a general information service provided by 21 Oaks Capital GmbH. Its content does not constitute individual investment advice and is not a recommendation by AHP Capital Management GmbH. 21 Oaks Capital GmbH, its affiliated companies, the funds it advises or its employees may hold positions in assets explained in this wiki. The explanations are independent of this; the disclosure is made for reasons of transparency.