Module 1 · Chapter 2

The Map of MiCA

MiCA sorts tokens into three families and lists the services that need a licence. This chapter maps both, shows what falls outside, and explains how one licence reaches every EU country.

≈ 11 min read 8-question test

In this chapter

  • The three families of token, and what falls outside MiCA
  • The ten services that need a licence, and the five Halcyon holds
  • When the rules began, and how one licence reaches other countries

2.1MiCA in one paragraph

MiCA does two jobs. It sorts crypto-assets into three families and sets rules for the firms that issue them. It also lists ten crypto-asset services, and a firm that provides any of them to clients needs authorisation. Halcyon's authorisation covers five of the ten, and nothing else.

Key point

Two questions place anything on the map. Which family is the token in? Which of the ten services is the firm providing? Ask both whenever the product team proposes a new token or a new feature.

Also in this chapter

  1. Why the EU chose one rulebook
  2. Three families of token
  3. What falls outside MiCA
  4. The ten services that need a licence
  5. Who needs authorisation
  6. When the rules began
  7. One licence for every member state: the passport
  8. Your job

Preview

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