MiCA White Paper Requirements and Compliance
- Under MiCA, a white paper is a mandatory legal disclosure, akin to a securities prospectus.
- The European Securities and Markets Authority (ESMA) requires the document in a structured digital format for automated analysis.
- Three asset categories—OTHERS, ARTs, and EMTs—each have distinct white paper requirements.
- Legal Entity Identifier (LEI) and Digital Token Identifier (DTI) are prerequisites for filing.
- Automated validation includes over 250 existence checks and 220 value checks.
MiCA redefines crypto white papers as legal instruments with structured content and identifiers, ensuring comparability across EU filings.
Projects must understand these requirements to avoid non-compliance during automated checks, which precede human review. Source)
