Skip to the text
Text as of 30 Dec 2024 · Consolidated version of 9 January 2024 · Same wording as today’s text.Today’s text

Article 2 — Scope

Financial servicesLevel 1RegulationMiCAIn forceVerifiedOfficial source

2(1)

1.This Regulation applies to natural and legal persons and certain other undertakings that are engaged in the issuance, offer to the public and admission to trading of crypto-assets or that provide services related to crypto-assets in the Union.

Copy link
2(2)

2.This Regulation does not apply to:

Copy link
2(2)(a)
(a)persons who provide crypto-asset services exclusively for their parent companies, for their own subsidiaries or for other subsidiaries of their parent companies;
Copy link
2(2)(b)
(b)a liquidator or an administrator acting in the course of an insolvency procedure, except for the purposes of Article 47;
Copy link
2(2)(c)
(c)the ECB, central banks of the Member States when acting in their capacity as monetary authorities, or other public authorities of the Member States;
Copy link
2(2)(d)
(d)the European Investment Bank and its subsidiaries;
Copy link
2(2)(e)
(e)the European Financial Stability Facility and the European Stability Mechanism;
Copy link
2(2)(f)
(f)public international organisations.
Copy link
2(3)

3.This Regulation does not apply to crypto-assets that are unique and not fungible with other crypto-assets.

Copy link
2(4)

4.This Regulation does not apply to crypto-assets that qualify as one or more of the following:

Copy link
2(4)(a)
(a)financial instruments;
Copy link
2(4)(b)
(b)deposits, including structured deposits;
Copy link
2(4)(c)
(c)funds, except if they qualify as e-money tokens;
Copy link
2(4)(d)
(d)securitisation positions in the context of a securitisation as defined in Article 2, point (1), of Regulation (EU) 2017/2402;
Copy link
2(4)(e)
(e)non-life or life insurance products falling within the classes of insurance listed in Annexes I and II to Directive 2009/138/EC of the European Parliament and of the Council or reinsurance and retrocession contracts referred to in that Directive;
Copy link
2(4)(f)
(f)pension products that, under national law, are recognised as having the primary purpose of providing the investor with an income in retirement and that entitle the investor to certain benefits;
Copy link
2(4)(g)
(g)officially recognised occupational pension schemes falling within the scope of Directive (EU) 2016/2341 of the European Parliament and of the Council or Directive 2009/138/EC;
Copy link
2(4)(h)
(h)individual pension products for which a financial contribution from the employer is required by national law and where the employer or the employee has no choice as to the pension product or provider;
Copy link
2(4)(i)
(i)a pan-European Personal Pension Product as defined in Article 2, point (2), of Regulation (EU) 2019/1238 of the European Parliament and of the Council;
Copy link
2(4)(j)
(j)social security schemes covered by Regulations (EC) No 883/2004 and (EC) No 987/2009 of the European Parliament and of the Council.
Copy link
2(5)

5.By 30 December 2024, ESMA shall, for the purposes of paragraph 4, point (a), of this Article issue guidelines in accordance with Article 16 of Regulation (EU) No 1095/2010 on the conditions and criteria for the qualification of crypto-assets as financial instruments.

Copy link
2(6)

6.This Regulation shall be without prejudice to Regulation (EU) No 1024/2013.

Copy link