Cryptocurrencies – MiCA
Crypto-Asset Issuance – ICO – Whitepaper
Who Needs a Whitepaper? Every crypto-asset issuer is required to prepare a whitepaper – a detailed informational document containing key details about the project, the team behind it, the economics of the crypto-asset (tokenomics), the associated rights and obligations, the underlying technology, and an overview of related risks.
Crypto-Asset Service Provider (CASP) under MiCA
Who Needs This License? A Crypto-Asset Service Provider (CASP) license under MiCA is required for crypto exchanges, crypto trading platforms, providers of order reception and transmission services related to crypto-assets, or execution of orders related to crypto-assets on behalf of customers, asset management/portfolio management in relation to crypto-assets, or crypto advisory services.
Issuer of Stablecoins – Asset-Referenced Tokens (ARTs) under MiCA
Who Needs This License? An asset-referenced token (ART) is a crypto-asset designed to maintain a stable value by referencing another value, right, or combination thereof, including one or more fiat currencies.
Issuer of Stablecoins – Electronic Money Tokens (EMTs) under MiCA
Who Needs This License? An electronic money token (EMT) is a type of crypto-asset designed to maintain a stable value by referencing the value of a single fiat currency.
Provider of Services Related to Virtual Assets
Who Needs This License? All entities providing services related to virtual assets need either a CNB license under MiCA or a Financial Analytical Office (FAÚ) license for providing virtual asset services.