Regulation (EU) 2023/1114 on markets in crypto‑assets, and amending Regulations (EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (MiCA) marks crypto‑assets’ emergence from the legislative shadows and the inauguration of a harmonised European crypto market governed by clear rules on user protection, financial stability and the encouragement of innovation. The article analyses the key requirements and the re...

The study is dedicated to the examination from a normative, theoretical andtechnical perspective of companies’ fi nancing using crypto-assets (tokens andstablecoins), distributed ledger technology (DLT) and blockchain, representinga viable alternative to traditional financing methods. The sale of tokens (utilitytokens, security tokens) in exchange for fiduciary currency or other crypto-assets (including stablecoins) is...