A short summary published via linkedin by Elizaveta Palaznik, Markets in Crypto-Assets (MiCA) consultant and regulation expert who says that, at this point we all know NFTs and DeFi are not under the scope of MiCA. BUT not only. The subject will be discussed at Banking 4.0 international conference on May 30.
What is not under the scope of MiCA?
– When crypto-asset services are provided in a fully decentralised manner without any intermediary.
– Crypto-assets that are unique and not fungible with other crypto-assets, including digital art and collectibles, whose value is attributable to each crypto-asset’s unique characteristics and the utility it gives to the token holder.
– Similarly, crypto-assets representing services or physical assets that are unique and not fungible, such as product guarantees or real estate.
– Crypto-assets that qualify as financial instruments under MiFID, funds, deposits, securitisation positions, non-life or life insurance and pension products, social security schemes.
– Where crypto-assets have no identifiable issuer (CASP providing services to such crypto-assets are under MiCA).
– Crypto-assets offered for free.
– Crypto-assets that are automatically created as a reward for the maintenance of the DLT or the validation of transactions in the context of a consensus mechanism.
– When a utility token represents the purchase of an existing good or service, enabling the holder to collect the good or use the service.
– When the holder of the crypto-assets has the right to use them in exchange for goods and services in a limited network of merchants with contractual arrangements with the offeror.
– The offers of crypto-assets exclusively offered to qualified investors and can be exclusively held by such qualified investors.
MiCA Linkedin Live this Thursday 7PM CET – Elizaveta will provide an overview, update an answers to your questions regarding MiCA.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: