Stablecoins (ART / EMT)
Electronic Money
Electronically stored monetary value representing a claim on the issuer — the EMD2 framework that MiCA Title IV builds upon.
Definition
E-money is electronically stored monetary value, including magnetically stored, representing a claim on the issuer, issued on receipt of funds for the purpose of payment transactions. Under EMD2 (Directive 2009/110/EC). MiCA Title IV applies the e-money framework to EMTs.
Regulatory citation