MiCA E-Money Token regime regulation
Overview
The e-money token (EMT) framework constitutes the segment of the European Union's Markets in Crypto-Assets Regulation (MiCA) addressing stablecoins pegged to a single fiat currency. Since 30 June 2024, the rules set out in Title IV have been in force: EMTs can be introduced to the EU market solely by licensed credit institutions or e-money institutions that file a white paper with their competent authority. Issuers are required to maintain reserves equivalent to the tokens in circulation, and token holders possess an unconditional entitlement to redeem at face value at any moment.
Within The Counterparty graph, MiCA E-Money Token regime connects to 20 tracked entities, most strongly to EU Markets in Crypto-Assets Regulation, European Union, European Securities and Markets Authority.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 10 of 20 total).
| Relation | Connected entity | Confidence |
|---|---|---|
governs | EU Markets in Crypto-Assets Regulation | 97% |
applies_in | European Union | 95% |
regulates | European Securities and Markets Authority | 95% |
complies_with | EURC | 94% |
governs | EU E-Money Institution license | 94% |
complies_with | Circle | 93% |
governs | European Banking Authority | 93% |
governs | MiCA non-EUR EMT payment cap | 93% |
complies_with | Tether USD | 92% |
complies_with | USD Coin | 90% |
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
Questions on the record
Which MiCA title covers EMTs?
Title IV.