# Regulation

## Required authorizations

A summary of regulatory objectives is accurate. To further elaborate on each objective:

1. Legal certainty - Crypto-Assets falling under the scope of MiCA (Markets in Crypto-Assets Regulation) should be clearly defined and subject to consistent regulatory treatment to provide legal certainty for market participants. This objective aims to reduce uncertainty and improve transparency in the market.
2. Support innovation - The development of crypto-assets requires a regulatory framework that supports innovation and competition. This objective aims to facilitate the growth and development of the market by promoting innovation while ensuring that it remains consistent with legal requirements.
3. Consumer and investor protection - Ensuring appropriate safeguards are in place to protect consumers and investors from potential risks associated with crypto-assets, such as fraud, theft, and market manipulation. This objective aims to promote investor confidence and trust in the market.
4. Financial stability - Addressing the possibility of certain crypto-assets reaching their potential and posing a risk to financial stability. This objective aims to ensure that the market is stable and resilient, by monitoring and mitigating potential risks that could affect the broader financial system.
5. Combating money laundering and the financing of terrorism - Identifying and reacting to anti-money laundering (AML) risks associated with crypto-assets, and taking measures to prevent the financing of terrorism. This objective aims to ensure that the market is not used for illegal activities, by promoting compliance with AML and counter-terrorism financing regulations.

## MiCa - Markets in Crypto-Assets Regulation

> The European Commission adopted a legislative proposal on the regulation of crypto-assets as a part of the digital finance package in September 2020. This legislative proposal, Markets in Crypto-Assets (the “MiCA”) regulation, was approved by the European Council on 5 October 2022 and is currently pending the European Parliament’s approval. MiCA will address crypto-assets that are not currently governed by existing regulations, including utility tokens, asset-referenced tokens and e-money tokens, and establish a legal framework for crypto-asset services providers as well as consumer protection.

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{% embed url="<https://www.dittmar.fi/insight/mica/>" %}

## Licensed Company
