What it means
The EU's legal term for a digital token recorded on a blockchain, from bitcoin to stablecoins.
MiCA sorts them into groups: e-money tokens such as EURC and USDC, asset-referenced tokens, and the rest.
How it works
Crypto-assets carry risk, including the possible loss of value.
Related terms
| Term | What it means |
|---|---|
| MiCA | Markets in Crypto-Assets: the EU's rulebook for crypto-assets and the companies that issue or handle them, in force since 2024. |
| Token | A unit of value recorded on a blockchain, which can stand for money, a vote, a share of a pool or anything else. |
| Stablecoin | A token on a blockchain designed to keep a steady value, usually one dollar or one euro, backed by reserves. |
This glossary explains terms in general. It isn't investment, tax or legal advice.