Token in MiCA | Relevant articles | Definition | Function |
---|---|---|---|
Asset-referenced | Definition 3(1)(3) Title III, arts. 15–42 | A type of crypto-asset that purports to maintain a stable value by referring to the value of several fiat currencies that are legal tender, one or several commodities or one or several crypto-assets, or a combination of such assets | Exchange or security |
e-money | Definition 3(1)(4) Title IV, arts. 43–52 | A type of crypto-asset the main purpose of which is to be used as a means of exchange and that purports to maintain a stable value by referring to the value of a fiat currency that is legal tender | Exchange |
Other | Title II, arts. 4–14 | Not asset-referenced or e-money | Exchange or utility or security |