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---
title: "Recital 6"
type: regulation
legal_status: in_force
source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114
shortTitle: "Recital 6"
instrument_type: level1_regulation
authority: Commission
binding: true
binding_character: binding
mica_level2: false
legal_basis: Regulation (EU) 2023/1114
instrument: mica
celex: 32023R1114
text_version: "Regulation (EU) 2023/1114, OJ L 150, 9.6.2023"
source_url: "https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng"
check_status: matched
verified: true
last_checked: 2026-11-09
---

*In force · Regulation (EU) 2023/1114, OJ L 150, 9.6.2023 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng)*

A dedicated and harmonised framework for markets in crypto-assets is therefore necessary at Union level in order to provide specific rules for crypto-assets and related services and activities that are not yet covered by Union legislative acts on financial services. Such a framework should support innovation and fair competition, while ensuring a high level of protection of retail holders and the integrity of markets in crypto-assets. A clear framework should enable [crypto-asset service providers](https://www.headlesslaw.com/definitions/mica/crypto-asset-service-provider) to scale up their businesses on a cross-border basis and facilitate their access to banking services to enable them to run their activities smoothly. A Union framework for markets in crypto-assets should provide for the proportionate treatment of issuers of crypto-assets and [crypto-asset service providers](https://www.headlesslaw.com/definitions/mica/crypto-asset-service-provider), thereby giving rise to equal opportunities in respect of market entry and the ongoing and future development of markets in crypto-assets. It should also promote financial stability and the smooth operation of payment systems, and address monetary policy risks that could arise from crypto-assets that aim to stabilise their price in relation to a specific asset or basket of assets. Proper regulation maintains the competitiveness of the Member States on international financial and technological markets and provides [clients](https://www.headlesslaw.com/definitions/mica/client) with significant benefits in terms of access to cheaper, faster and safer financial services and asset management. The Union framework for markets in crypto-assets should not regulate the underlying technology. Union legislative acts should avoid imposing an unnecessary and disproportionate regulatory burden on the use of technology, since the Union and the Member States seek to maintain competitiveness on a global market.