Crypto-assets and crypto-asset services

Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets (MiCA) regulates the issuance of crypto-assets, offers of crypto-assets to the public, applications for the admission of crypto-assets to trading, and the provision of crypto-asset services.

In the MiCA Regulation, crypto-asset refers to a digital representation of a value or a right that can be transferred and stored electronically using distributed ledger or similar technology. The regulation distinguishes between three types of crypto-assets: e-money tokens, asset-referenced tokens, and other crypto-assets.

Under MiCA, crypto-asset service refers to the following services and activities relating to any crypto-asset:

Providing custody and administration of crypto-assets on behalf of clients.
Operation of a trading platform for crypto-assets.
Exchange of crypto-assets for funds.
Exchange of crypto-assets for other crypto-assets.
Execution of orders for crypto-assets on behalf of clients.
Placing of crypto-assets.
Reception and transmission of orders for crypto-assets on behalf of clients.
Providing advice on crypto-assets.
Providing portfolio management on crypto-assets.
Providing transfer services for crypto-assets on behalf of clients.

MiCA

Last reviewed: 2025-11-19

Crypto-assets and crypto-asset services

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