MiCA
EU Markets in Crypto-Assets Regulation
Overview
The EU Markets in Crypto-Assets Regulation (MiCA) governs crypto-asset service providers and issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs). Where IOF handles tokenised sukuk or stablecoin-settled Islamic trades, issuer whitepapers, disclosure obligations, and market conduct requirements are modelled to MiCA Title II and Title III.
Scope
Applies to CAPITAL_MARKETS rails handling tokenised sukuk issuance, and any settlement flows using stablecoin or digital-asset settlement. Scoped to EU-domiciled tenants and issuances.
Key Controls
- Issuer whitepaper fields in tokenised sukuk schema (MiCA Art. 19)
- Orderly-market conduct controls for secondary sukuk trading
- ART and EMT classification checks in token issuance rail
- Disclosure of underlying asset composition
- Redemption right enforcement mechanics
- Regulatory notification hooks for EU national competent authorities
Certification & Audit
EU national competent authority notification (per issuer domicile)
MiCA fully applicable from December 2024; annual review
Evidence Bundle
Evidence bundle available on request
Contact compliance@islamicopenfinance.com to request the evidence pack for this framework. We typically respond to audit requests within two business days.