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MiCA Recital (2) — preamble

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MiCA Recital (2) — preamble (2) Crypto-assets are one of the main applications of distributed ledger technology.

Crypto-assets are digital representations of value or of rights that have the potential to bring significant benefits to market participants, including retail holders of crypto-assets.

Representations of value include external, non-intrinsic value attributed to a crypto-asset by the parties concerned or by market participants, meaning the value is subjective and based only on the interest of the purchaser of the crypto-asset.

By streamlining capital-raising processes and enhancing competition, offers of crypto-assets could allow for an innovative and inclusive way of financing, including for small and medium-sized enterprises (SMEs).

When used as a means of payment, crypto-assets can present opportunities in terms of cheaper, faster and more efficient payments, in particular on a cross-border basis, by limiting the number of intermediaries.

32023R1114

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (2); PDF page 1; derived-text line 61

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