MiCA (MiCAR) explained

MiCA is the EU's comprehensive crypto regulation — a single rulebook for crypto-asset markets across all member states. It's now in force, and while it's primarily about authorisation and conduct, it also shapes how crypto-assets are classified for accounting and reporting. This page explains the essentials.

See how CryptaCount handles MiCAR classification

General information, not legal or tax advice. Confirm your specific obligations against the regulation and a qualified advisor.

What MiCA is

MiCA — the Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114, often "MiCAR") — creates a harmonised EU framework for issuing and providing services in crypto-assets, covering authorisation of crypto-asset service providers (CASPs), conduct and transparency rules, and requirements for stablecoin issuers.

The token classes

MiCA classifies crypto-assets into three broad groups, which determine the rules that apply:

Asset-Referenced Tokens (ARTs) — tokens referencing a basket of assets, currencies, or commodities to stabilise value.
E-Money Tokens (EMTs) — tokens referencing a single official currency (euro-stablecoins are the common example).
Other crypto-assets — everything else in scope (e.g. utility tokens), excluding assets already covered by other EU financial law and excluding NFTs in most cases.

This classification matters beyond licensing: it can affect tax treatment too — for example, some jurisdictions give MiCAR-compliant euro-stablecoins distinct tax treatment.

What's in force

MiCA applies in stages: the rules for stablecoins (ARTs and EMTs) applied from mid-2024, and the broader rules for CASPs applied from end-2024 — so MiCA is now substantially in force across the EU, with transitional arrangements in some member states.

Why it matters for accounting

Correctly classifying each token under MiCAR — and tracking which assets are MiCAR-compliant euro-stablecoins versus other types — feeds both your regulatory position and, in some jurisdictions, the tax treatment of those assets.

How CryptaCount helps

Classifies crypto-assets with MiCAR classification attributes, so each asset is tagged correctly
Applies the right tax treatment where MiCAR status changes it (e.g. euro-stablecoin carve-outs)
Keeps classification consistent across your books, with a full audit trail

Compliance & reporting → · The crypto sub-ledger →

General information, not legal or tax advice. Verify against the regulation and a qualified advisor.

See how CryptaCount handles MiCAR classification

FAQ

What is MiCA?

The EU's Markets in Crypto-Assets Regulation (MiCAR) — a harmonised rulebook for issuing and providing services in crypto-assets across the EU, including authorisation of CASPs and rules for stablecoin issuers.

What are ARTs and EMTs?

Asset-Referenced Tokens reference a basket of assets or currencies; E-Money Tokens reference a single official currency (euro-stablecoins are the common example). Other crypto-assets, like utility tokens, form a third group.

Is MiCA in force?

Yes, substantially — the stablecoin rules applied from mid-2024 and the broader CASP rules from end-2024, with some transitional arrangements.

Does MiCA affect crypto tax?

It can indirectly — some jurisdictions give MiCAR-compliant euro-stablecoins distinct tax treatment, so classification matters.

How does CryptaCount use MiCAR classification?

It tags each asset with its MiCAR classification and applies the corresponding tax treatment where it differs, consistently across your books.