Published online by Cambridge University Press: 28 February 2025
Chapter 6 discusses MiCA’s bespoke product regulation for so-called stablecoins under the labels of ARTs and EMTs. Section 6.2 lays out the scope of Titles III and IV MiCA, after which Section 6.3 discusses the licensing requirements forming the basis for the token issuer’s European Passport. Section 6.4 then covers the rules on redemption rights and reserve management, while Section 6.5 addresses disclosure requirements. Section 6.6 lays out the EBA’s supervision of significant ARTs and EMTs, and Section 6.7 concludes.
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