metadata: {"type": "project", "title": "MiCA Model Canvas for Token Engineers", "logoImg": "bafkreihsi6kx6eh5exkwiwfgpxgxyepycwinr6cd47vpwdp4fawfkitbp4", "website": "https://www.eu.ci", "bannerImg": "bafkreibt3ibgvg2vgdqsvdf6gduid4caa2ocozcexbplbnd4apndoanxe4", "createdAt": 1714262186511, "credentials": {}, "description": "The aim of the project is to develop a structured and easy-to-use framework tailored specifically to token engineers and developers. This tool will aid in navigating and ensuring a better understanding of the compliance requirements under the Markets in Crypto Assets (MiCA) regulation.\n\nBackground:\nThe European Union's MiCA regulations establish a comprehensive framework for issuing crypto assets, aiming to promote innovation while ensuring consumer protection and market integrity. \n\nToken engineers need clear and accessible guidelines to align their projects with these regulations from the outset, particularly when developing new assets with complex tokenomics.\n\nThrough numerous conversations with representatives from the crypto industry, we think an easy-to-use template would be a useful tool for anyone wanting to evaluate the compliance risks of its token issuance.\n\nHence, the MiCA Model Canvas was born, bringing together years of experience in crypto compliance and a broad understanding of the market\u2019s needs. \n\nProject Description:\nWe hope the MiCA Model Canvas will serve as a visual chart guiding users through the questions about the most important token's regulatory aspects. It will help engineers visualise compliance requirements for their crypto asset or asset-related service. The canvas will simplify complex regulatory information, enabling better planning, implementation and communication of compliant crypto projects.\n\nEnvisioned components of the MiCA Model Canvas (up to reworking during the project):\n\n0. Would MiCA apply to you?\n0.1. Would your token qualify as a financial instrument/security?\n0.2. Is your project decentralised enough not to be scoped in? \n0.3. Are you issuing an NFT?\n\n1. Crypto-asset classification - once we\u2019ve established that MiCA would apply to you, it\u2019s time to understand how:\n1.1. Is the token a stablecoin?\n1.1.1. Is the token an Asset-referenced token (ART)? \n1.1.2. Is the token an E-Money token (EMT)?\n1.2. Is the asset you are working with a crypto-asset?\n1.2.1. Is the token a utility token? \n1.2.2. Does it fall into the broader crypto-asset category?\n\n2. Token issuance: the white paper obligations - now that we\u2019ve determined that MiCA applies, what else do you need to consider?\n2.1. Do you need a Crypto-asset service provider (CASP) license? \n2.2. Do you need an E-Money Institution/Payment Institution license?\n2.3. Do you need a credit institution license?\n\n3. How to stay compliant - Would the AML requirements apply to you?\n4.1. Are you an obliged entity under the Transfer of Funds Regulation (TFR)?\n4.2. Are you an obliged entity under the Anti-money Laundering Regulation (AMLR)?\n4.3. Would other rules apply to your project?\n\nProject Implementation Steps:\n- Research and Development: Gathering input from legal experts in blockchain regulation, experienced token engineers, and regulatory bodies.\n\n- Design and Prototyping: Creating and testing initial drafts of the MiCA Model Canvas.\n\n- Finalisation and Launch: Refine the canvas based on feedback and launch it as a digital tool accessible to token engineers worldwide.\n\n- Workshop: Conduct an educational session to train token engineers on using the canvas effectively.\n", "logoImgData": {}, "bannerImgData": {}}
name: MiCA Model Canvas for Token Engineers