Definition ∞ The Markets in Crypto-Assets regulation, a comprehensive legislative act enacted by the European Union. This law establishes a unified regulatory regime for crypto-assets not already covered by existing financial services legislation. It aims to provide legal certainty, support innovation, and ensure consumer and investor protection across EU member states. MiCA covers the issuance, offering, and trading of various digital assets.
Context ∞ MiCA Law is a pivotal development for the global digital asset industry, setting a benchmark for future regulatory approaches worldwide. Its phased implementation requires crypto-asset service providers to adapt their operations to new authorization, governance, and transparency requirements. The industry closely observes its practical effects on market structure and the competitive landscape within Europe.