Circle Director: Non-transferable digital assets exempt from MiCA framework.

Bhim5551

The EU's MiCA regulation, regarded as a milestone regulatory framework in the crypto industry, has garnered significant attention. Aimed at addressing the complexities of crypto assets comprehensively, it has become a focal point of discussion within the global cryptocurrency community. Patrick Hansen, the Director of Circle, has pointed out that utility tokens designed and used within specific networks are not subject to MiCA provisions. Additionally, crypto asset products targeting fewer than 150 people in each EU member state or exclusively qualified investors, with a total of less than 1 million euros over 12 months, fall outside the scope of MiCA. Furthermore, non-transferable digital assets are not bound by the MiCA regulatory framework. It's worth noting that lending for crypto assets, including electronic money tokens, is explicitly excluded from regulation. Services provided in a "fully decentralized manner" for crypto assets are not subject to regulation. Similarly, crypto assets lacking identifiable issuers and whitepapers are also not within the scope of MiCA.

Jayne94133

A bit less regulation can also be beneficial.

Dilip9777

If it's non-transferable, can it still be called an asset?

Jiger955

I'm not sure why it can't be transferred for some reason.