Stablecoin

A stablecoin is a cryptocurrency whose price in fiat currency aims to be stable.

Such a cryptocurrency can achieve its stability by different mechanisms: collateralization of each stablecoin with fiat currency or a basket of assets, algorithms, etc.

Since 2024, in the European Union, the MiCA Regulation has created categories of cryptocurrency that resembles what a stablecoin can be: Asset-Referenced Tokens (ARTs) and Electronic Money Tokens (EMTs).

The most famous stablecoins are Tether (USDT), USD Coin (USDC) and MakerDAO (DAI).

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6 minutes

What’s the Difference Between EMT vs. ART in MiCA?

For stablecoin issuers, EMT and ART are legally distinct under MiCA. We unpack the reserve logic, redemption rights, and compliance traps so you don't get the classification wrong.
What’s the Difference Between EMT vs. ART in MiCA? image
Adrien Marchand photo
Adrien Marchand Associate at LegalBison
6 minutes

What’s the Difference Between EMT vs. ART in MiCA?

For stablecoin issuers, EMT and ART are legally distinct under MiCA. We unpack the reserve logic, redemption rights, and compliance traps so you don't get the classification wrong.
What’s the Difference Between EMT vs. ART in MiCA? image
Adrien Marchand photo
Adrien Marchand Associate at LegalBison
6 minutes

What’s the Difference Between EMT vs. ART in MiCA?

For stablecoin issuers, EMT and ART are legally distinct under MiCA. We unpack the reserve logic, redemption rights, and compliance traps so you don't get the classification wrong.
What’s the Difference Between EMT vs. ART in MiCA? image
Adrien Marchand photo
Adrien Marchand Associate at LegalBison