MiCAR

MiCAR introduces a new and Pan-European concept of crypto assets, which differs strongly in its definition from the German crypto asset concept. What impact will this have on the handling of utility tokens?

The text for the Markets in Crypto Assets Regulation (MiCAR) has recently been finalized. As soon as the new regulation applies, the provision of crypto-asset services in the EU will be subject to authorization. But which activities does this actually affect exactly?

The question if NFTs and business models relating to them should be subject to MiCAR was controversially discussed and unclear for a long time. A compromise was reached in the end which now causes legal uncertainty.