Àwọn ààyè-iṣẹ́

Àwọn ìṣàfihàn àwọn iṣẹ́ àìpamọ́ lórí MiCA

Bii MiCA ṣe gba awọn olupese iṣẹ crypto-asset ni EU: awọn iṣẹ, awọn klasu owo-ori, awọn iwe-iṣowo, iyipada, ipadabọ ati ofin irin-ajo.

11 min read · Updated 2026-10-07 · 6 sources

Àwọn ààyè-iṣẹ́ Kekere

01MiCA (Regulation (EU) 2023/1114) ti a lo ni kikun lati ọjọ 30 Oṣù Kejìlá ọdun 2024; awọn akoko igbelaruge orilẹ-ede to kẹhin ti pari ni ọjọ 1 Oṣù Kejìlá ọdun 2026.
02A CASP nilo owo-ori ti o kere ju fun igba pipẹ ti EUR 50,000, 125,000 tabi 150,000 da lori awọn iṣẹ rẹ, tabi ida keji ti awọn owo-ori ti a ṣe deede ti o ba ga julọ.
03Awọn iwe-aṣẹ kan le wa ni paṣipaarọ si gbogbo awọn orilẹ-ede miiran ti o jẹ ọmọ ẹgbẹ nipasẹ ifiranṣẹ si oludari ile.
04Ìṣàfilọ́lẹ̀ tí a yipadà jẹ́ ẹ̀yàn kan: àwọn ìṣàfilọ́lẹ̀ fún àwọn olórí EU, nípa àwọn kọ̀ǹpútà wọn, yọ ọ̀kan lọ́wọ́.
05Ìfihàn kọ́ọ̀kan tí a fi pamọ́ nínú àwọn ìṣàfilọ́lẹ̀ yẹ̀ ki o wọ̀ data oríṣíńrí náà àti ààyè-iṣẹ́ aladapọ̀ láti inú Àjọṣe (EU) 2023/1113.

The Markets in Crypto-Assets Regulation, Regulation (EU) 2023/1114, is the first single licensing regime for crypto-asset businesses across a large economic area. It replaced a patchwork of national registration systems with one authorization that can be used in every Member State. It also sets rules for anyone who offers crypto-assets to the public or issues stablecoins.

Àkọlé àwòrán Ó sọ̀rọ̀ fún ẹnití o nìfẹ̀sì líǹẹ́ẹ̀tì, ohun ti líǹẹ́ẹ̀tì náà jẹ́ nínú owó, bi ìṣàmúlò-ètò náà ṣe gbọ́dọ̀ kọ̀ǹpútà lọ́wọ́lọ́wọ́ atí ohun tí a yipadà nígbà tí ìjáde náà fi kù. Stablecoin ìforúkọsílẹ̀ níbẹ̀ nìkan nínú àwòrán; àkọlé mìíràn lórí stablecoins atí GENIUS Act wòyé nínú rẹ̀ nínú ìròyìn.

Ìgbà: ohun tí MiCA kọ̀ǹpútà àti ohun tí o fi kùnà

Awọn àkọlé 3(1)(5) MiCA sọ̀rọ̀ kọ́ọ̀kan-aṣàfilọ́lẹ̀ gẹ́gẹ́ bí ayẹyẹ́ dijitólìtì tí o jẹ́ ẹ̀yàn kan tabi ẹ̀tọ̀ kan tí ó lè fi pamọ́ nípa ìmọ̀ràn láti ló sọ̀rọ̀ọ̀kan-aṣàfilọ́lẹ̀ tabi sọ̀rọ̀ọ̀kan-aṣàfilọ́lẹ̀ kan. Ninú rẹ̀, MiCA séfàtì mẹta, gbogbo wọn nípa àwọn ìṣẹ̀dà wọn.

Àwọn Àkọsílẹ̀	Àkóónú nínú MiCA	Tí a lè fi pamọ́ tàbí ṣàfihàn
E-owo token (EMT)	Àwọn ìṣàfilọ́lẹ̀ láti fi pamọ́ àwọn ààyè-iṣẹ́ tí a bá ṣe nípa ìṣàfilọ́lẹ̀ owo-ìtàn kan (Àrẹ̀sì 3(1)(7)	Àwọn ile-iṣẹ́ ifowopamọ́ atí awọn ile-iṣẹ́ owó e-iwọlè nikan (Àtìtọ́ 48)
Àwọn ààyè-iṣẹ́ ìṣàfilọ́lẹ̀ (ART)	Àwọn ìṣàmúlò-ètò láti fi àwọn fáìlì pamọ́ nípa ìṣàfihàn àwọn fáàlì mìíràn tàbí ẹ̀yàn, tàbí ìdákọ, àti ààyè-iṣẹ́ mìíràn (Àrẹsì 3(1)(6)	Àkọ́lé àwòrán Aṣàfilọ́lẹ̀ EU tí a fọwọ́sì nínú Ìwé-ẹ̀yàn 21, tàbí ile-iṣẹ́ owó (Ìwé-ẹ̀yàn 16)
Aṣàfilọ́lẹ̀ kọ́ọ̀kan	Gbogbo àwọn mìíràn nínú ìjánu-ìṣàfarawé, àti àwọn tónẹ́ẹ̀lì iṣẹ́	Gbogbo eniyan ofin ti o ṣe atẹjade iwe funfun ti o ni ibamu (Art. 4)

Àwọn ohun-ìsẹ́ẹ̀tì mìíràn wọ inú MiCA nitorí pé ẹ̀yàn EU mìíràn náà ti pẹ̀lú wọn. Áìrọ̀gbèsì 2(4) kò ni ìfàyehàn crypto-aṣàfilọ́lẹ̀ tí ó yẹ bi àwọn ohun-ìṣàfilọ́lẹ̀ owó, ìdápọ̀lọpọ̀, owó (tí a bá jẹ́ EMTs), ipó ìdajọ́, iná àti àwọn nǹkan iṣẹ́ penṣín. Ìpàpọ̀ tokenized, fun apẹẹrẹ, ní a fọwọ́sì lórí MiFID II, kò si MiCA. Áìrọ̀gbèsì 2(3) tun kò ni ìfàyehàn crypto-aṣàfilọ́lẹ̀ tí ó jẹ́ alailẹgbẹ̀ àtí kò̀ lè fi hàn nínú́ àwọn crypto-aṣàfilọ́lẹ̀ mìíràn.

Àwọn iṣẹ́ ẹ̀yàn ṣífàsì mẹrin

A crypto-asset iṣẹ olupese (CASP) ni eyikeyi ile-iṣẹ ti o pese kan tabi diẹ sii ti awọn iṣẹ ti a mẹnuba ninu Article 3(1)(16) MiCA:

Igbàra-ọ̀fẹ́ àti ìṣàfarawe-àwọn ẹ̀yàn cryptographic nínú orúkọ́ awọń agbẹ̀jọro.
Ìṣàmúlò-ètò tí a lò fún àwọn ẹ̀yàn cryptographic.
Ìṣílọ́kọ̀ọ̀kan tí a fi pamọ́ fún àwọn owó.
Ìjádè àwọn ààyè-ètò kọ́òdù fún àwọn ààyè-ètò kọ́ọ̀dù mìíràn.
Ìṣàmúlò-ètò àwọn ìṣẹ̀dá fún àwọn ẹ̀yàn-ìpamọ́ nínú orúkọ awọń agbẹ́jọro.
Ìpàlẹ̀ àwọn ẹ̀yàn cryptographic.
Iṣẹ́dà atí ibaraẹnisọrọ́ tí a ṣè fuń awọń ẹ̀yàn cryptographic nínú orukọ́ awọń olórí.
Ṣàfihàn àwọn ìṣẹ̀dá nípa àwọn ẹ̀yàn-ìṣiró.
Ń fi ààyè-iṣẹ́ pánẹ́ẹ̀lì pamọ́ lórí àwọn ẹ̀yàn kọ́ọ̀kan.
Ṣàfihàn àwọn iṣẹ́ ìṣàmúlò-ètò fún crypto-assets nínú orúkọ́ àwọn olórí.

Àtòjọ náà tí a fi hàn pé MiFID II àwọn iṣẹ́ ifowopamọ.

Ààyè-iṣẹ́ àwọn ìṣàfarawe-ẹ̀yàn

Awọn nkan 59 gba awọn iru ẹrọ meji nikan lati pese awọn iṣẹ crypto-asset ni EU. Ti o kẹhin jẹ ẹni ti a fọwọsi bi CASP labẹ Awọn nkan 63. Ti kẹta jẹ ile-iṣẹ ti a fọwọsi ti o wa tẹlẹ ti o lo ilana iforukọsilẹ ninu Awọn nkan 60.

Labẹ Article 60, a ile-iwe owo, central securities depository, investment company, market operator, electronic money institution, UCITS management company or alternative investment fund manager can add crypto services without a new license. A ile-iwe owo yẹ ki o sọ fun rẹ home regulator ni o kere ju 40 ọjọ iṣẹ ṣaaju ki o to bẹrẹ. A ile-iwe owo le pese nikan awọn iṣẹ crypto ti o tọka si awọn iṣẹ idoko-owo ti o ti wa ni tẹlẹ fọwọsi fun, ati pe ile-iwe owo elektroniki kan ni aabo ati gbigbe awọn iṣẹ fun awọn e-owo tokens o fi han.

A ti a fọwọsi tuntun CASP gbọdọ ni ile-iṣẹ rẹ ti a forukọsilẹ ni orilẹede kan nibiti o ṣe iṣẹ diẹ ninu awọn iṣẹ rẹ. Awọn nkan 59(2) tun nilo pe aaye rẹ ti iṣakoso to wulo lati wa ni Union ati pe o kere ju oludari kan lati jẹ oloselu ni Union. Ẹgbẹ apoti ifiranṣẹ ko pade awọn ipo wọnyi.

Àwọn ìṣàmúlò-ètò Ìdáràn: àwọn ẹka mẹ́tà

Article 67 nilo a CASP lati ni aabo prudential to tọ si ti o ga julọ ti awọn iye meji: awọn owo-ori kere ju igba pipẹ ni Annex IV, tabi kan kẹfa ti ọdun to koja 's fixed overheads, atunyẹwo lododun. A ile-iṣẹ tuntun lo awọn overheads projected ninu rẹ iṣowo eto fun ọdun akọkọ rẹ.

Klasi	Ìṣẹ́ (awọn igbimọ)	Àwọn Ìṣàmúlò-ètò
Class 1	Iṣẹ́kọ̀ọ̀kan àwọn ìlànà, igbẹ́sẹ̀, iṣẹ́ iforukosilé, ayẹyẹ̀wò àti ibaraẹnisọrọ̀ àwọn ìlànà, ìmọ̀yé, iṣakosó porfolio	EUR 50,000
Class 2	Àwọn iṣẹ́ ìṣàmúlò-ètò Class 1 àti ìdájọ́ àti ìṣàfarawé-iṣẹ́, ìṣirò fún àwọn owó, tàbí ìṣirò fún àwọn ohun-ìpamọ́ mìíràn	EUR 125,000
Class 3	Àwọn iṣẹ́ ìṣàfarawé-iṣẹ́ 2 kọ̀ǹpútà tí a n ṣowo	EUR 150,000

The safeguards can be own funds in the form of Common Equity Tier 1, an insurance policy covering the Member States where services are provided, or a combination of both. In practice, the overheads test often produces the higher figure for any firm with a real operating team, so the Annex IV amount is a floor rather than a budget.

Àwọn ìṣàmúlò-ètò àti ààyè-iṣẹ́

Àwọn Àkọlé 62 ṣàfihàn ohun tí ìṣàmúlò-ètò náà gbọdọ̀ nì. Àwọn àwọn àtítà ààyè-iṣẹ́ jẹ́:

iṣẹ-ṣiṣe, pẹlu ibi ati bi iṣẹ ṣe le wa ni ọja;
igbẹkẹle ti o ni aabo labẹ nkan 67;
awọn eto iṣakoso ati awọn ifihan pe ẹgbẹ iṣakoso ni igbẹkẹle ti o dara pupọ ati pe o ni imọ-ẹrọ to tọ, awọn ọgbọn ati iriri;
aimọ ti gbogbo ẹni ti o ni ẹtọ tabi ti ko ni ẹtọ lati tọju ohun-ini to tọ, pẹlu igbẹkẹle ti wọn ni;
awọn iwadii inu, iṣakoso ibajẹ, AML/CFT awọn ilana ati eto-iṣe iṣowo;
awọn iwe-ẹri imọ-ẹrọ ti awọn eto ICT ati awọn ilana aabo;
awọn ilana fun iyatọ awọn ohun-ini crypto ati awọn owo-ori alabara, iṣakoso awọn ẹjọ ati, nibiti o ṣe pataki, eto aabo.

Àtílẹ̀yìn 63 fi àwọn aago ìjọba hàn. Ààyè-iṣẹ́ náà gbàgbọ̀ nínú àwọn ọjọ́ iṣẹ́ mẹ́tà náà, tí o si ṣàyẹwó iparí nínú awọn ọjọ́ iṣẹ́ 25. Tí fáìlì bá tí parí, o ní ọjọ́ iṣẹ́ 40 láti fun àwòrán tàbí dáwọ́ kọ̀ọ̀kan, àtì o gbọdọ̀ sọ̀rọ̀ ìṣẹ̀dà nínú awọn ọjọ́ iṣẹ́ mẹ́tà lórí.

Awọn 40-ọjọ akoko runs nikan lati a kikun faili. Article 63 (10) lists grounds for refusal, including a management body that threatens sound and prudent management or exposes the firm to a serious money laundering risk, and shareholders who fail the good repute test.

Àwọn ìṣẹ̀dá ìṣàmúlò-ètò láti sí àgbèwọlé

Awọn adehun diẹ ti n lọ lọwọ ni wọn ṣe apẹrẹ awoṣe iṣowo:

Client asset protection. Article 70 requires arrangements that protect client ownership rights in an insolvency and prevent the use of client assets for the firm's own account. Client funds other than EMTs must be placed with a credit institution or central bank by the end of the next business day, in a separately identifiable account.
Custody. Article 75 beere fun a kọ ìlànà ìlànà àti a ìforúkọsílẹ ti ipo ti o ti ṣii ni orukọ gbogbo awọn alabara.
Ko si iye owo lori awọn stablecoins. Awọn nkan 40 ati 50 ṣe idiwọ CASPs lati fun iye owo, tabi eyikeyi anfani ti o ni ibatan si akoko ti o wa, ni asopọ pẹlu ARTs ati EMTs.
Outsourcing. Awọn nkan 73 fi CASP silẹ ti o ni ẹtọ fun awọn iṣẹ-ṣiṣe ti a gbe jade. ESMA ti ṣe akiyesi pe igbẹkẹle ko le jẹ aṣoju si awọn entities ti kii ṣe awọn CASPs ti a fọwọsi.

Àwọn àkọlé àwòrán

A eniyan ti o nfun crypto-asset miiran ju ART tabi EMT si awọn olosa, tabi n wa iwọle rẹ si iṣowo, gbọdọ ṣe agbekalẹ, fifiranṣẹ ati fipamọ iwe funfun labẹ Awọn nkan 4 si 9 MiCA. Iwe funfun naa yẹ ki o fifiranṣẹ si oludari ile ni kete bi ọjọ iṣẹ 20 lọ ṣaaju ifiweranṣẹ. Awọn oludari ko gbagbọ ninu rẹ ni iṣaaju, ṣugbọn ifiranṣẹ gbọdọ ṣalaye idi ti tokeni kii ṣe ohun elo owo-iworo, EMT tabi ART.

Article 4(2) exempts some offers from the white paper duty: offers to less than 150 people per Member State, offers with total consideration not above EUR 1,000,000 over 12 months, and offers addressed only to qualified investors. For tokens already trading before 30 December 2024, Article 143(2) gives trading platform operators until 31 December 2027 to make sure a compliant white paper exists.

Stablecoins ni outline

Stablecoin emitters wa ni iwaju awọn ibeere banki-bi ti o lọ daradara siwaju sii ju CASP awọn ofin. A ART emitter gbọdọ tọju owo ti ara wọn ti o kere ju ti o ga julọ ti EUR 350,000, 2% ti aarin ipamọ ti awọn ohun-ini, tabi a kẹfa ti fixed overheads (Article 35). The reserve must be legally segregated from the issuer's estate (Article 36).

EMTs ni a lo bi owo e-iwọle. Awọn ti o ni ẹtọ ni ẹtọ lori olupese, awọn ami-ami gbọdọ wa ni ifilọlẹ ni par lori rira awọn owo-ori, ati pe ipadabọ yẹ ki o wa ni eyikeyi akoko, ni par ati laisi idiyele (Awọn nkan 49). Laarin 30% ti awọn owo-ori ti a gba gbọdọ wa ni ipamọ ninu awọn iroyin oriṣiriṣi ni awọn ile-iṣẹ ifowopamọ (Awọn nkan 54). Awọn tokeni ti o di pataki ni a ṣakoso nipasẹ EBA ati awọn ibeere giga.

Ìjádè náà tí kù

MiCA’s stablecoin titles applied from 30 June 2024 and the rest of the Regulation from 30 December 2024 (Article 149). Article 143(3) let firms already providing services under national law continue until 1 July 2026 or until their application was decided, whichever came first. Member States could shorten that period.

O tilẹ̀ jẹ́ bẹ̀ẹ̀. Gẹgẹ bi atokọ ESMA ti awọn akoko grandfathering, Latvia, Hungary, Netherlands, Polandii, Slovenia ati Finland yan 6 oṣu, Sweden 9 oṣu, ati Germany, Ireland, Lithuania, Austria ati Slovakia 12 oṣu. France, Luxembourg, Malta, Cyprus ati diẹ ninu awọn miiran lo gbogbo 18 osu.

Ninu ọrọ rẹ ti 17 Oṣù Kejìlá 2026, ESMA sọ pe lẹhin ọjọ 1 Oṣù Kejìlá 2026 ohunkohun ti o nfun iṣẹ́ crypto-asset sí awọn onibara EU laisi iwe-aṣẹ MiCA jẹ́ ni igbẹjọ́ EU. Awọn CASPs ti a ko fọwọsi ni a ṣereti lati fi idi àwọn ìṣẹ̀dà ìmọ̀ràn-ilẹ̀ mulẹ̀ lọ́wọ́lọ́wọ́ lórí ọjọ́ naa. ESMA tun sọ fún àwọn onínọmbà láti ṣayẹwo Resitọ́ẹ̀li Interim MiCA ki wọn si ṣalaye ohunkohun ti ẹ̀yàn ofin kan ninu ẹgbẹ́ kan bá jẹ́ pe o nfun iṣẹ́ wọn.

Àwọn iṣẹ́ nínú ilẹ̀:

A CASP authorized in one Member State le se iṣẹ fun awọn alejo ni gbogbo awọn miiran. Laarin Awọn nkan 65, o firanṣẹ si oludari ile rẹ akojọ awọn orilẹ-ede ti o fẹran, awọn iṣẹ ti o n wa lati pese ati ọjọ ibẹrẹ. The home regulator forwards the information to host authorities, ESMA and the EBA within 10 working days.

O le bẹrẹ ile-iṣẹ ni orilẹ-ede ti o jẹ olori nigbati a ba sọ fun ọ nipa ibaraẹnisọrọ naa, tabi ni kete bi o ti ṣee ṣe lori ọjọ kalẹnda 15th lẹhin ifiweranṣẹ rẹ. Ko si iwe-aṣẹ agbegbe ti o nilo. Iṣẹ-ṣiṣe ti oludari ile-iṣẹ tun jẹ pataki, nitori ọna iwadii ati agbara ilana yatọ laarin awọn alaṣẹ orilẹ-ede.

Àwọn ìṣàfilọ́lẹ̀ àìfàn: ààyè-ètò náà

Awọn nkan 61 gba ile-iṣẹ ni ita EU lati ṣe iṣẹ fun alabara EU laisi fọwọsi nikan nibiti alabara n bẹrẹ iṣẹ naa lori ibẹrẹ rẹ ti ara ẹni. Iyatọ naa padanu bi o tilẹ jẹ pe ile-iṣẹ, tabi ẹnikẹni ti n ṣiṣẹ fun orukọ rẹ tabi pẹlu awọn asopọ to ku si rẹ, beere lọwọ awọn alabara ni Union nipasẹ eyikeyi ọna ibaraẹnisọrọ.

Awọn ofin adehun ti o sọ pe alabara kan wa ni ibẹrẹ rẹ ko yipada eyi. Akọsilẹ 61 (2) tun ṣe idiwọ ile-iṣẹ lati ta awọn iru ẹrọ tuntun ti crypto-assets tabi awọn iṣẹ si alabara naa. ESMA gbejade awọn itọnisọna to kẹhin rẹ ni Oṣu Kẹsan Ọjọ 17, Ọdun 2024, ti n ṣalaye iyọọda bi o kere pupọ ati iyatọ, ati pe ọrọ Oṣu kọkanla ọdun 2026 rẹ ṣalaye pe eyi le lo ni ipo iṣowo-si-iṣowo tun.

Fun awọn ẹgbẹ kariaye, ipa ti o ṣeeṣe ni o han gbangba. Ṣiṣe iṣẹ fun awọn alabara EU ni iwọn nilo entity EU ti a fọwọsi, ati pe awọn adehun alabara yẹ ki o wa pẹlu entity naa.

Àwọn ìṣẹ̀dá ìjánu-ìṣàmúlò-ètò: Àwọn ààyè-iṣẹ́ (EU) 2023/1113

Ni apapọ MiCA, ti a ṣe atunṣe Iyipada ti Awọn owo-ori Regulation, Regulation (EU) 2023/1113, ti lo lati 30 December 2024. O n faagun “awọn ofin irin-ajo” si awọn gbigbe crypto-assets. Itumọ rẹ 30 sọ pe awọn gbigbe crypto yẹ ki o wa ni ibamu pẹlu awọn ibeere kanna laisi akiyesi iye wọn ati boya wọn jẹ ile-iṣẹ tabi cross-border.

Àwọn Àkọlé 14 ní ìṣàfihàn tí a fi CASP kọ̀ọ̀kan lọ́wọ́lọ́wọ́:

orukọ onkọwè, adirẹsí pẹkipẹki tí a fi pamọ́ àti nọmba iroyin nígbà tí a lo;
adirẹsi ti onkọwe, nọmba iwe-aṣẹ ara ẹni ofiṣo ati nọmba idanimọ alabara, tabi ọjọ ati ibi ibimọ;
orukọ alagbaṣe, adirẹsi pẹkipẹki ati nọmba kaadi kirẹditi ti a lo;
LEI tabi àwọn ìṣàfilọ́lẹ̀ tí wọ́n jẹ́, bí a bà lè.

Àwọn ìṣàfihàn sí àwọn àwòrán-ìpamọ́ tí a wẹ́ẹ̀bù kọ̀ǹpútà fún ara wọn ní pàtó igbésẹ̀ kan. Fún gbogbo àwọn owóọ̀kan tí o jú EUR 1,000 lọ sí àdírẹ̀sì tí a wẹ́ẹ̀bù kọ̀ǹpútà fún ara wọn, CASP gbọdọ̀ gba àwọn ìṣẹ̀dà to bá jẹ́ pe àdírẹ̀sì náà jẹ́ ẹ̀yàn tabi lágbára lórí klíntì rẹ̀.

Bií MiCA ṣe lè bá àwọn régíìmù mìíràn jọ

MiCA ni a tọka si aaye fun regulators nibẹ, sugbon kan MiCA iwe-aṣẹ ko pese eyikeyi iwọle si awọn ọja miiran. The UK runs its own regime, pẹlu FCA awọn ofin ti o ti yan lati wa ni ipa lori 25 October 2027. Hong Kong, Singapore ati UAE tun gba iwe-aṣẹ awọn iṣẹ crypto labẹ awọn fọọmu orilẹ-ede oriṣiriṣi, nitorinaa ile-iṣẹ ti n ṣiṣẹ ni ọpọlọpọ awọn agbegbe yẹ ki o ronu lati ni awọn iwe-aṣẹ diẹ sii.

Àwọn ààyè-iṣẹ́ fun àwọn onkọwe

Map the services first. The Annex IV class follows the most demanding service, so adding custody or exchange later means a change of class.
Pẹ̀lú fuń ohun-iní gidì. Ìbàlẹ̀ tí a bà fi hàn nínú EU atí oludari kaǹ tí n bà gbè nínú EU jẹ́ àwọn ipò ìgbàgbọ́ra.
Ṣẹ̀dá àwọn onínọmba. Gbogbo ẹnití o ní ẹ̀tọ̀ láti lò gbọdọ̀ ṣàfihàn ìròyìn rere.
Ṣẹ̀dá AML àti àwọn ìṣẹ̀lẹ̀-ètò ìrìn-ìjádé lọ́wọ́lọ́wọ́ nígbà tí a bà fi pamọ́. Àwọn alasé ṣé iwadí àwọn ìṣàmúlò-ètò yìí bí ẹ̀yàn ninú ìṣàfihàn.
Budjet fun overheads-based capital. A quarter of fixed overheads often exceeds the Annex IV minimum.

Sources(6)

EUR-Lex: Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA) · checked 2026-10-07
EUR-Lex: Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets · checked 2026-10-07
ESMA: Statement on the end of transitional periods under MiCA (17 April 2026) · checked 2026-10-07
ESMA: List of grandfathering periods decided by Member States under Article 143 MiCA · checked 2026-10-07
ESMA: ESMA releases last policy documents to get ready for MiCA (17 December 2024) · checked 2026-10-07
FCA: PS26/10 Stablecoin issuance and cryptoasset custody, final rules · checked 2026-10-07

Àkóónú nikan, kò jẹ́ ofin, owo-ori àwòrán. Àjọṣepọ̀ ìforúkọsílẹ̀.