Training · The MiCA course
MiCA, from scratch
Nine sections, in the order a person actually meets the regime: what it is, what your asset is, whether it catches you, what the licence takes, what the desk runs, and which rules you can still shape. Nothing here assumes you know anything yet — and every section opens with the whole picture on one screen, so you can take the short course by reading only the boxes.
Counted from the practice’s instrument registry at build.
You’ll walk it with a firm
Alderhaven is an invented firm: a small EU company holding several very different crypto-assets, deciding what to do with them. No real firm, token or person is depicted anywhere in this course.
Four people sit at Alderhaven’s table, and they want different things from every rule. Where they pull apart, the course shows what the regime dictates — the rule as the umpire’s ruling, not one seat winning the argument.
The desk
Ines · Compliance officer
To know exactly what must be filed, kept and checked — and to be able to show the record when someone asks.
Reads every section to the bottom: the instruments, the stages, the forms.
The manager
Viktor · Head of operations
To know what each obligation costs in people, systems and time — and which deadline bites first.
Reads the desk layer for what his team owes, the overview for what to promise upward.
Counsel
Ama · External lawyer
To place every rule in its frame: where MiCA sits in the EU's digital-finance strategy, and what the drafters were trying to fix.
Reads the overview boxes and the moving edge; goes deep only where a reading is contested.
Commercial
Rutger · Board member, revenue
The shortest lawful route to the market — and an honest answer on which revenue lines the regime forecloses.
Reads the overview boxes only. When his plan and the rules collide, that becomes a scene at the table.
The nine sections
Section 1
What MiCA is, and the whole picture
What is this regime, who runs it, and how does it all fit together?
Section 2
The sort
What is this asset in law — and is it MiCA's problem at all?
Section 3
Who the regime catches
When does a business fall inside MiCA — and when does it not?
Section 4
Tokens with issuers
What do ARTs and EMTs demand of the people behind them?
Section 5
Becoming a CASP
What does getting the licence actually take?
Section 6
Running the licence
What does the desk run every day once you hold it?
Section 7
One regime, thirty implementations
Why does the same regulation feel different in every member state?
Section 8
The moving edge
Which rules can you still shape — and for how long?
Section 9
Practice
Can you do it on a closed, dated record?
Beside the course
The official sources
EUR-Lex ↗
Regulation (EU) 2023/1114 (MiCA)
The Level-1 text itself, on EUR-Lex — the citation every other layer hangs off.
ESMA ↗
ESMA — Markets in Crypto-Assets Regulation
ESMA's MiCA hub: the interim register, statements, guidelines and the Level-2 documents as the authority publishes them.
EBA ↗
EBA — Markets in crypto-assets
The EBA's MiCA page: the Title III/IV standards for asset-referenced and e-money tokens, guidelines and supervision material.
ESMA ↗
ESMA — grandfathering periods list
The per-state transitional windows as ESMA records them — the primary behind the Europe map's window layer.
MFSA ↗
MFSA — authorisation process
Malta's authorisation-process page: the Intention Stage, the Service Charter and the forms the Malta case study is traced to.
FMA (AT) ↗
FMA (Austria) — MiCAR
The Austrian FMA's MiCAR topic pages: applicant information, guidance and its published sanctions. Not the Liechtenstein FMA.
As at — instrument lifecycle stages verified 2026-08-26 to 2026-08-28, per instrument (each citation above shows its own date); register figures are from the dated snapshots of 24 August 2026. Sections marked in preparation are named promises, not links; each joins this page only after review.