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Slovenia joins EU MiCA stablecoin register with first issuer

Created at 12 Aug · 1:41 PM1 source↑ Market-relevant
IN SHORT

Slovenia's electronic money institution Dinaro has been added to the EU's MiCA register of electronic money token issuers. The update also saw two new crypto-asset service providers added and one removed.

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Key Numbers

43total electronic money token issuers on ESMA register
325total authorized crypto-asset service providers on ESMA register
167non-compliant entities on MiCA register

Who's Involved

Dinaro
Slovenia-based electronic money institution and first Slovenian issuer on EU MiCA register
ESMA
European Securities and Markets Authority, updated the MiCA register
Bank of Slovenia
Supervisor of Dinaro
Partners Banka
Czech lender added to CASP register
Volksbank Beilstein-Ilsfeld-Abstatt
German bank added to CASP register
Altlift
Czech company removed from CASP register

↳ Why This Matters

Dinaro's inclusion signifies Slovenia's active participation in the EU's comprehensive crypto-asset regulatory framework, potentially paving the way for other domestic firms to seek similar authorizations and enhancing trust in the region's digital asset market.

Key facts

  • Slovenia-based electronic money institution Dinaro has been added to the EU's MiCA register of electronic money token issuers.
  • This marks the first Slovenian issuer to appear on the European Securities and Markets Authority's (ESMA) register.
  • The update also added two new authorized crypto-asset service providers (CASPs) and removed one.
  • The register of asset-referenced token (ART) issuers remains empty.

Slovenia has officially entered the European Union's Markets in Crypto-Assets Regulation (MiCA) register through Dinaro, an electronic money institution. This marks the first time a Slovenian entity has been listed as an issuer of electronic money tokens (EMTs).

Dinaro, which is supervised by the Bank of Slovenia and offers payment services including card issuing and acquiring, was added to the register in the latest update by the European Securities and Markets Authority (ESMA). Its inclusion brings the total number of EMT issuers on the register to 43.

The ESMA update also saw changes to the register of authorized crypto-asset service providers (CASPs), increasing the total to 325 companies. Czech lender Partners Banka and Germany's Volksbank Beilstein-Ilsfeld-Abstatt were newly added. However, Czech company Altlift, previously authorized for order execution, transmission, and advisory services, was removed from the list.

The register for asset-referenced tokens (ARTs) remains empty, and the list of non-compliant entities has not changed, standing at 167.

Frequently asked questions

MiCA, or Markets in Crypto-Assets Regulation, is a comprehensive regulatory framework established by the European Union to govern crypto-assets and provide legal certainty for issuers and service providers.

An Electronic Money Token (EMT) is a type of crypto-asset under MiCA that aims to maintain a stable value by being pegged to a single fiat currency, similar to stablecoins.

A CASP is an entity that provides services related to crypto-assets, such as exchanges, custodians, or portfolio management, and must be authorized under MiCA to operate within the EU.

What Happens Next

01Further updates to the MiCA register are expected as more entities seek authorization.

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How It Developed

Dinaro, a Slovenia-based electronic money institution, was added to the EU's MiCA register of electronic money token issuers.
The European Securities and Markets Authority (ESMA) updated its register on Wednesday.
Two new crypto-asset service providers, Partners Banka and Volksbank Beilstein-Ilsfeld-Abstatt, were added to the register.
Czech company Altlift was removed from the MiCA CASP register.

Sources

T1
Slovenia joins EU’s MiCA stablecoin register with first issuerSlovenia entered the EU’s MiCA stablecoin register through electronic money institution Dinaro, as the update also added two new CASPs.Cointelegraph

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