The EEA operates a single, EEA-wide harmonised crypto-asset licensing regime under Regulation (EU) 2023/1114 (MiCA), which is a directly-applicable Regulation across the 27 EU Member States and, following incorporation into the EEA Agreement, across Iceland, Liechtenstein and Norway. A CASP authorisation granted by any one EEA competent authority passports across the entire bloc. The Article 143 grandfathering/transitional regime for pre-existing national VASP registrations formally expired on 1 July 2026 for EU Member States, with the EEA EFTA states (Iceland, Liechtenstein, Norway) running separate, shorter or longer national grandfathering windows (18 months for Iceland and Liechtenstein, 12 months for Norway) that were not perfectly synchronised with the EU timeline. Post-expiry, ESMA and NCAs are actively supervising wind-down of unauthorised providers.
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MiCA establishes three principal harmonised crypto-asset categories for the EEA: asset-referenced tokens (ARTs), e-money tokens (EMTs), and 'other' crypto-assets (which include most utility tokens), each with its own authorisation and disclosure track. NFTs are generally out of scope unless fungible-like/part of a series or collection. ESMA has issued guidelines to delineate crypto-assets that separately qualify as MiFID II financial instruments (and hence fall outside MiCA's Title II regime), creating a boundary-classification exercise that NCAs and market participants must perform case-by-case.
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MiCA does not create a bespoke authorisation or licensing regime for underlying on-chain activities such as DeFi protocols, staking, mining or node/validator operation as such; it regulates issuers and intermediaries (CASPs) rather than protocols. EBA and ESMA's joint Article 142 MiCAR report (2025) found DeFi to remain a niche phenomenon in the EU/EEA and identified risks (ML/TF exposure, information asymmetries, procyclicality) without recommending new legislation. Where a regulated entity (e.g. a CASP or credit institution) engages with DeFi, existing frameworks such as DORA apply to that regulated entity's own ICT risk management, not to the DeFi protocol itself.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
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MiCA Titles III and IV impose a comprehensive EEA-wide stablecoin regime covering asset-referenced tokens (ARTs) and e-money tokens (EMTs): mandatory issuer authorisation, a segregated reserve of assets with minimum liquidity/composition rules, permanent holder redemption rights, disclosure/audit obligations, and an EBA-administered 'significance' designation triggering enhanced supervision for the largest ARTs/EMTs.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
MiCA provides EEA-wide harmonised consumer protections for crypto-asset holders and CASP clients — mandatory white papers, marketing-communication conduct rules, suitability requirements for advice/portfolio management, custody segregation, and complaint handling — but the Joint ESAs have repeatedly warned that these protections are narrower than those for traditional financial products, notably the absence of any investor-compensation scheme equivalent.
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No periodic updates recorded against this sub-brief.
Direct taxation (income tax, capital gains) of crypto-assets remains a national Member State (and, separately, national EFTA-state) competence not harmonised at EEA level. The EU has, however, harmonised cross-border tax-information reporting via DAC8 (Council Directive (EU) 2023/2226), which extends automatic exchange of information to crypto-asset service providers from 1 January 2026. Separately, the CJEU's Hedqvist ruling (Case C-264/14) held that exchange of bitcoin for traditional currency is VAT-exempt under the EU VAT Directive (2006/112/EC) as a currency transaction — but the EU VAT Directive itself is outside the scope of the EEA Agreement, so Norway, Iceland and Liechtenstein apply their own distinct national VAT/consumption-tax regimes not bound by this EU case law.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
Regulation (EU) 2023/1113 (the recast Transfer of Funds Regulation, or crypto 'Travel Rule') requires full originator and beneficiary information to accompany every crypto-asset transfer within, into, or out of the EEA involving a CASP, with no de-minimis threshold (unlike the €1,000 threshold applicable to certain fiat transfers). CASPs must additionally verify ownership/control of self-hosted wallets for transfers over €1,000, and third-country (non-EEA) providers cannot solicit or serve EEA clients outside a narrowly-construed reverse-solicitation exemption.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
Crypto subscribes to the FIM consumer's aml_ctf baseline module for substantive AML/CFT obligations. This crypto DR baseline therefore does not duplicate KYC/CDD, SAR/STR, sanctions-screening or record-keeping claims here; those are administered under the FIM aml_ctf module, which covers Regulation (EU) 2023/1113 (crypto Travel Rule) and Directive (EU) 2015/849 (AMLD) as they apply to CASPs. This module is emitted as a shell for schema completeness only.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
No periodic updates recorded against this sub-brief.
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