標準簡介
MiCA 是由 歐盟 發布的現行有效標準，常用於金融銀行、科技、服務業等產業，並適用於歐盟、歐洲經濟區等市場。
本頁整理了 MiCA 的官方文件、目前狀態以及常見相關認證或評估機構，便於快速理解要求與落地路徑。
EU crypto market passport
MiCA creates a harmonised authorisation regime for crypto-asset service providers, allowing authorised firms to operate across the EU subject to regulatory conditions.
Stablecoin controls
Asset-referenced tokens and e-money tokens face reserve, governance, redemption, white paper, and supervision requirements, with heightened scrutiny for significant tokens.
Operational resilience link
Crypto firms often need to coordinate MiCA licensing with DORA ICT risk management, cybersecurity controls, outsourcing oversight, and incident response.
list_alt MiCA Compliance Themes
- CASP authorisation and governance arrangements
- Crypto-asset white papers and marketing communications
- Stablecoin reserve, redemption, and prudential requirements
- Market abuse prevention and conflicts management
- Client asset safeguarding and complaint handling
- DORA-aligned ICT risk and third-party oversight
Who Needs to Comply?
Crypto-asset service providers, issuers of asset-referenced tokens, issuers of e-money tokens, trading platforms, custodians, exchange services, wallet providers, and fintechs offering crypto services to EU clients.
Key Requirements
Authorisation and governance
CASPs must obtain authorisation, maintain fit-and-proper management, implement governance controls, and meet prudential, safeguarding, and complaint-handling obligations.
White papers and disclosures
Issuers must publish compliant crypto-asset white papers and ensure marketing communications are fair, clear, and not misleading.
Stablecoin reserves and redemption
ART and EMT issuers must maintain reserve assets, redemption rights, governance arrangements, and additional controls for significant tokens.
Market abuse and conflicts
Implement controls for inside information, market manipulation, conflicts of interest, order handling, and fair treatment of clients.
Penalties & Enforcement
MiCA enforcement is handled by national competent authorities with EU-level coordination by ESMA and EBA. Firms risk licence refusal or withdrawal, public enforcement measures, business restrictions, and administrative fines set under the regulation and national implementation rules.