White Paper & Token Issuance
Token Sale
The primary issuance and offering of crypto-assets to investors or users — covered by MiCA Title II/III/IV depending on type.
Definition
A token sale is the primary distribution of crypto-assets to investors or users. MiCA Title II applies to utility/generic token sales; Title III to ART issuance; Title IV to EMT issuance. Each route has its own white-paper and notification requirements.