The conclusion of purchase or sale contracts concerning crypto-assets with clients for other crypto-assets by using proprietary capital
Defined in / by
Last updated: 22 August 2026.
Glossary termPublished inMiCA
Exchange of crypto-assets for other crypto-assets
What does "Exchange of crypto-assets for other crypto-assets" mean under MiCA?
Regulations
Markets in Crypto-Assets (MiCA)
MiCA is Regulation (EU) 2023/1114. Full application began on 30 December 2024 and the EU-wide transitional period expired on 1 July 2026, so there is now no grandfathering anywhere in the EEA. Around 325 crypto-asset service providers are authorised. Not one asset-referenced token issuer appears on ESMA's register.
NextCommission final report under Art. 140, covering DeFi, third-country equivalence, thresholds and consensus-mechanism environmental impactChecked