Skip to main content
Glossary termPublished inMiCAAMLR

Funds

What does "Funds" mean under MiCA and the AMLR?

Funds as defined in Article 4, point (25), of Directive (EU) 2015/2366:

Funds means banknotes and coins, scriptural money or electronic money as defined in point (2) of Article 2 of Directive 2009/110/EC

Article 2, point (2), of Directive 2009/110/EC:

Electronic money means electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions as defined in point 5 of Article 4 of Directive 2007/64/EC, and which is accepted by a natural or legal person other than the electronic money issuer

Defined in / by

Last updated: 22 August 2026.

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.

    Next
    Commission final report under Art. 140, covering DeFi, third-country equivalence, thresholds and consensus-mechanism environmental impact

    Checked

  • Anti-Money Laundering Regulation (AMLR)

    The AMLR is Regulation (EU) 2024/1624. It applies from 10 July 2027 and is directly applicable, so from that date customer due diligence, beneficial ownership, reporting and internal controls come from EU law rather than national statute. Cash payments for goods and services are capped at €10,000. Football clubs and agents follow on 10 July 2029.

    Next
    AMLR applies (Art. 90) and the AMLD6 transposition deadline. References to Directive (EU) 2015/849 are construed as references to the AMLR and AMLD6, per the correlation table in Annex VI (Art. 89); the repeal itself sits in AMLD6

    Checked