Explanation
MiCA obliges platforms to hold a licence, keep capital buffers, segregate client assets and provide clear disclosures. A licence supervises the organisation; it is not a seal of approval for the coins traded there.
What the regulation does
MiCA (Markets in Crypto-Assets) is the European regulation applying in phases since 2024-2025. It creates a single authorisation regime for crypto service providers across the EU: obtain a licence in one member state and you can passport into all others. It also sets rules for stablecoin issuers, for white papers at token issuance and for market abuse.
What it changes for you
In practice you notice MiCA through stricter identification, clearer risk warnings, mandatory fee disclosure and the disappearance of certain stablecoins and products from European apps. Providers without a licence may no longer actively target European clients; several foreign platforms have narrowed their European offering as a result.
What MiCA does not do: it guarantees no returns, covers no price losses and protects against no bad decisions. A licence says something about the provider's organisation, not about the quality of a coin.
Supervision in Belgium and the Netherlands
Belgium's FSMA supervises, the Netherlands' AFM does the same, with the national central banks handling prudential aspects. Both maintain a public register of authorised providers. Checking that register before transferring a single euro is the cheapest protection available.
Key takeaways
- One licence, valid across the EU.
- Stricter rules for stablecoins and marketing.
- No protection against price losses.
Frequently asked questions
+Does MiCA apply to my own wallet?
No. Anyone managing their own keys and trading for themselves is not a service provider and needs no licence.
+Why did some stablecoins disappear?
Issuers that do not meet reserve and reporting duties may no longer be offered in the EU. Platforms delisted those coins pre-emptively.