Diogo Pereira Coelho* and Manuel Quelhas Poças
With the entry into force of Markets in Crypto-Assets Regulation (MiCA or MiCAR), there are many questions regarding the complex case-by-case analysis of the legal framework of crypto-assets that fall within its scope. This article aims to contribute to the study and understanding of the legal definition of crypto-assets, as well as the legal framework of the respective subcategories. To this end, a criticaldescriptive analysis structured into three chapters is carried out. The first explores the delimitation of the definition of distributed ledger technology, including the legal definition. For this purpose, among others, a distinction is made between blockchain technology and distributed ledger technology. The second develops the construction of the Latu Sensu concept of crypto-asset, which includes understanding of the main forms of issuance, the distinction between fungible and non-fungible crypto-asset, and the analysis of functional subcategories. The third develops the construction of the legal definition of crypto-asset, as well as the legal subcategories. The latest guidance from European Supervisory Authorities is taken into account.
Published Date: 2025-01-16; Received Date: 2024-09-10
