The article is dedicated to the examination from a theoretical and normativeperspective of the Proposal for a EU Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 („MiCA Regulation”). MiCA Regulation will replace existing European Union Member States’ legislation applicable to cryptoassets, which are not covered by the EU existing legislation on financial services.

Without requiring any mandate from the owner of financial instruments, a financial services agent authorized to access the Central Depository’s computer system may transfer those titles from the individual account of the owner to any individual or global account. Keywo...