---
url: https://eurocomply.app/regulations/mica
canonical: https://eurocomply.app/regulations/mica
title: Regulation (EU) 2023/1114 of the European Parliament and of the Council on markets in crypto-assets — EuroComply
shortName: MiCA
alternateNames: [Markets in Crypto-Assets Regulation]
regulationNumber: (EU) 2023/1114
celex: 32023R1114
instrumentType: regulation
status: in-force
inForceDate: 2023-06-29
applicationDate: 2024-12-30
extraterritorialReach: true
sourceUrl: https://eur-lex.europa.eu/eli/reg/2023/1114/oj
officialJournalRef: OJ L 150, 9.6.2023, p. 40–205
lastReviewed: 2026-05-12
author: EuroComply Team
license: CC-BY-4.0
---

# Regulation (EU) 2023/1114 of the European Parliament and of the Council on markets in crypto-assets

The EU's regulatory framework for crypto-assets not covered by existing financial-services legislation. Creates authorisation regimes for issuers of asset-referenced tokens (ARTs), e-money tokens (EMTs), and crypto-asset service providers (CASPs); imposes prudential, governance, market-integrity, and consumer-protection rules.

## Who does MiCA apply to?

Applies to persons engaged in the issuance, offer to the public, or admission to trading of crypto-assets in the EU, and to persons providing crypto-asset services in the EU. Excludes crypto-assets already qualifying as financial instruments under MiFID II.

**Applies to:**

- issuers of crypto-assets, ARTs, and EMTs
- crypto-asset service providers (CASPs)
- trading platforms for crypto-assets

## What are the penalties for MiCA non-compliance?

**Maximum fine:** Tiered by infringement type and entity: up to 12.5% of global annual turnover for ART/EMT issuer core breaches; up to 15% for market abuse; up to 3% for CASP breaches. The 'higher of' fixed-amount fallback applies (€5M–€15M depending on tier).

**Tier detail:**

- ART issuer — breaches of core obligations (Articles 16, 17, 19, 21, 22, 23, 24, 25, 26): €15M or 12.5% of global turnover (the higher of, for legal persons) — Article 111(2)(a)
- EMT issuer — breaches of core obligations (Articles 48, 51): €15M or 12.5% of global turnover (the higher of, for legal persons) — Article 111(3)(a)
- Market abuse (Articles 88–92): €15M or 15% of global turnover (the higher of, for legal persons) — Article 111(5)
- Crypto-asset service provider (CASP) breaches: €5M or 3% of global turnover (the higher of, for legal persons) — Article 111(4)(a)
- Natural persons — most infringements: €0.7M (max) — Article 111(4)(b)
- Natural persons — market abuse: €5M (max) — Article 111(5)(b)

## When does MiCA apply?

**Key dates:**

- 2023-06-29 — Entry into force (Article 149)
- 2024-06-30 — Application of Titles III and IV (ARTs and EMTs) (Article 149(2))
- 2024-12-30 — Full application (CASP rules, other titles) (Article 149)

## Supervising authorities

- European Securities and Markets Authority (ESMA) *(EU)* — [https://www.esma.europa.eu/](https://www.esma.europa.eu/)
- European Banking Authority (EBA) *(EU)* — for significant ARTs and EMTs
- National competent authorities *(member-state)*

## Sector applicability

- crypto and digital-asset sector
- fintech entities offering crypto services in the EU

## Primary articles

- **scope:** Articles 1 and 2
- **cryptoAssetWhitepaper:** Articles 6 and following
- **artAuthorisation:** Article 16
- **emtAuthorisation:** Article 48
- **caspAuthorisation:** Articles 59 and following
- **marketAbuse:** Article 86 and following
- **penalties:** Article 111
- **entryIntoForce:** Article 149

## Related EuroComply resources

- Hub: [/regulations/mica](https://eurocomply.app/regulations/mica)

## Source

Authoritative text: [(EU) 2023/1114 — EUR-Lex](https://eur-lex.europa.eu/eli/reg/2023/1114/oj) (OJ L 150, 9.6.2023, p. 40–205).

---

Informational only. Not legal advice — consult qualified legal counsel for your specific situation.

Last reviewed: 2026-05-12 by the EuroComply Team. License: CC-BY-4.0.