An Overview of the Markets in Crypto-Assets Regulation (MiCAR).

72 Pages Posted: 11 Dec 2023

See all articles by Filippo Annunziata

Filippo Annunziata

Bocconi University - Department of Law; European Banking Institute; Ca Foscari University of Venice; Bocconi University - Baffi Carefin Centre; Frankfurt School of Finance & Management; EUSFIL Jean Monnet Centre of Excellence

Date Written: December 11, 2023

Abstract

The EU has enacted its first, structured and complete legislation on crypto-assets, substantiated in the Markets in Crypto Assets Regulation. With this Regulation, which constitutes a new, large pillar of the Union's financial legislation, the EU finds itself in a unique position, also on a geopolitical level, as it now constitutes the sole multi-state geographic area endowed with a homogeneous and uniform discipline (as directly applicable in the Member States) on markets in crypto-assets. This paper wishes to provide an overall illustration of the structure of the MiCA Regulation and its rational, highlighting some its major interpretative issues, including taxonomy, definitions, and interplay with National legislations, also with the aim of stimulating further research.

JEL Classification: K20, K22, K24

Suggested Citation

Annunziata, Filippo and Annunziata, Filippo, An Overview of the Markets in Crypto-Assets Regulation (MiCAR). (December 11, 2023). European Banking Institute Working Paper Series no. 158, Available at SSRN: https://ssrn.com/abstract=4660379 or http://dx.doi.org/10.2139/ssrn.4660379

Filippo Annunziata (Contact Author)

Bocconi University - Department of Law ( email )

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Milan, Milan 20136
Italy

European Banking Institute ( email )

Frankfurt
Germany

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Ca Foscari University of Venice ( email )

Dorsoduro 3246
Venice, Veneto 30123
Italy

Bocconi University - Baffi Carefin Centre ( email )

Via Roentgen 1
Milan
Italy

Frankfurt School of Finance & Management ( email )

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Frankfurt am Main, 60322
Germany

EUSFIL Jean Monnet Centre of Excellence ( email )

Italy

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