What is MiCA and why does it matter for real estate tokenization in Europe?

MiCA is the EU’s new framework for crypto-assets. It sets rules for many tokens, but it excludes assets that are already treated as securities, like most real estate equity or debt tokens.

This means a typical property token in Europe is handled under existing securities law (MiFID II / MiFIR and the Prospectus Regulation), while MiCA covers other kinds of crypto. Issuers still need licensed intermediaries, full KYC/AML, and sometimes a prospectus. MiCA is important because it gives clarity and pushes projects to design clean, compliant structures from day one.