MiCA, explained from the source.
Plain-language guides to the EU’s crypto-asset rulebook: MiCA, the Travel Rule (TFR) and DORA. Each one is written from the regulation text and official ESMA materials, and every claim carries an article reference. Paired with the MiCA Radar, a dated, searchable snapshot of the authorised CASP register.
SOURCES: REGULATION (EU) 2023/1114 (EUR-LEX) · ESMA · EBA · GUIDES UPDATED 25 OCTOBER 2026 · INDEX UPDATED 25 OCTOBER 2026
Three-layer structure
| Level | What it is | Access |
|---|---|---|
| L1 | The Regulation itself — Reg (EU) 2023/1114, all 149 articles verbatim from EUR-Lex; plus Reg (EU) 2023/1113 (TFR) and Reg (EU) 2022/2554 (DORA) | Guide · MiCA articles · Titles · TFR articles · DORA articles |
| L2 | Delegated & implementing acts — Commission RTS/ITS under MiCA | ESMA technical standards ↗ |
| L3 | Authority guidance — ESMA Q&A, EBA opinions, and circulars from 16 national regulators | Guidance index · CySEC · MFSA · CSSF |
The MiCA Regulation
What MiCA is, what it covers, the three token categories, how the regulation is structured, and the full application timeline — from entry into force to the end of grandfathering.
READ THE GUIDE /02 · LICENSINGCASP Authorisation
Who needs authorisation, the ten crypto-asset services, own-funds requirements by class, the application process, passporting across the EEA, and the transitional regime.
READ THE GUIDE /02a · LICENSING, IN PRACTICELicensing a CASP in Cyprus
What a CySEC authorisation actually means: substance and own funds, the statutory fee schedule, the clock, passporting, and the obligations that keep the licence alive.
READ THE GUIDE /03 · TRANSFERSThe Travel Rule (TFR)
Regulation (EU) 2023/1113 — originator and beneficiary information on every CASP transfer, no de-minimis threshold, self-hosted address checks above €1,000.
READ THE GUIDE /04 · RESILIENCEDORA
Regulation (EU) 2022/2554 — the five pillars of ICT resilience that apply to CASPs as financial entities: risk management, incident reporting, testing, third-party risk, information sharing.
READ THE GUIDE /05 · VOCABULARYGlossary
The vocabulary of EU crypto-asset regulation — CASP, VASP, ART, EMT, NCA, passporting, reverse solicitation, CARF/DAC8 and more — each defined in a sentence or two.
READ THE GUIDE /06 · DATED SNAPSHOTMiCA Radar
A dated snapshot of CASPs in the EU/EEA, searchable and filterable by jurisdiction and service, sortable by authorisation date — drawn from ESMA’s register.
OPEN THE RADARRELATED: HOW WE SOURCE AND DEDUPLICATE THE RADAR · THE FREE MICA CASP FEE SNAPSHOT AND RADAR DIGEST.
Educational summary of public sources. This guide condenses the text of Regulation (EU) 2023/1114 (MiCA) and official ESMA/EBA materials for general information. It is not legal advice; obligations depend on your specific facts and Member State. Verify against the official sources linked below before relying on any point.