ChainCatcher news, EU regulators have issued new guidelines that allow relevant market participants to classify cryptocurrencies and digital assets under the Crypto Assets Market Regulatory Authority (MiCA). The newly released guidelines provide a structured approach to classifying various types of crypto assets. This includes determining whether a token belongs to MiCA through question-based prompts, such as who the issuer is, whether it is based on a blockchain, or whether it is a financial instrument. It also helps to determine whether the token in question meets the standard crypto asset qualifications under MiCA, or whether it can be classified as another type of asset, such as an electronic money token (EMT) or an asset reference token (ART).

Issuers must attach a legal opinion to their white paper clearly explaining the classification of these tokens. The opinion should confirm that these tokens are neither electronic money tokens (EMT) nor any other type of crypto-asset outside the scope of MiCA.