MiCA Defined Terms
E-money Token (EMT)
A crypto-asset that purports to maintain a stable value by referencing a single official currency.
Definition
An EMT is a crypto-asset that purports to maintain a stable value by referring to the value of a single official currency. EMTs are regulated under MiCA Title IV via the EMD2 framework — issuers must be credit institutions or electronic money institutions (EMIs). Holders have a permanent right of at-par redemption.
Regulatory citation