Electronic Money Tokens (EMTs)

Electronic Money Tokens (EMTs) are a type of crypto asset that has been designed as a Stablecoin, which links its value to a single fiat currency, generally functioning as a digital representation of electronic money.

MiCA regulates EMTs with the aim of preventing manipulation in their issuance and use, which allows for guaranteeing fair practices and protecting users against any type of risk related to non-compliance by the issuer or the loss of the link of the tokens, which can be achieved through established regulations.

Asset Referenced Tokens (ARTs)

Asset-Referenced Tokens (ARTs) are crypto assets that are characterized by having their value tied to other assets or a combination of assets, such as commodities, fiat currencies, and even other crypto assets. This distinguishes them from EMTs, who are tied to only one fiat currency.

MiCA regulates ARTs to ensure a safe and transparent market, similar to what happens with EMTs. However, it’s important to highlight that, by regulating ARTs, MiCA also promotes financial stability in the market, especially in the event that mass adoption of this type of crypto asset causes its value to deviate from the assets that originally determined its initial value.

Other crypto assets

The MiCA regulation defines “other crypto assets” as crypto assets not classified as EMTs or ARTs. Therefore, it should be noted that the “other cryptoassets” category is quite broad and tends to be more unstable, as they lack the stabilization mechanisms of EMTs and ARTs. It is important to note that crypto assets such as non-fungible tokens (NFTs), security tokens, and central bank digital currencies (CBDCs) are excluded from this category.

By regulating “other crypto assets” MiCA is assured of creating a comprehensive framework that allows regulating the crypto market that includes Utility Tokens (a token that grants access to a decentralized application or platform), Cryptocurrencies (Bitcoin or Ethereum), and Non-Stable Tokens, which are characterized by being decentralized crypto assets and whose value is not linked to any underlying asset and therefore, can be volatile, since it depends on market supply and demand.

Importantly, MiCA requires issuers and providers to disclose detailed information about crypto assets in white papers, in addition to establishing standards and protocols that reduce the risk of fraud or deceptive practices in issuance or promotion, ensuring consistency of regulations across the European Union and standardizing the crypto market, which provides security and confidence to potential crypto asset investors.

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The euro as a single currency in the European Union

Six years after the European Union was created in 1993, the euro was created to provide a solid financial and political foundation for Europe. However, in its early days, the euro was only introduced virtually (on January 1, 1999) and was used for electronic transactions in financial markets and large-scale corporate transactions, including interbank transactions (cross-border settlements in euros), government bonds (converting existing debt into euros), euro-denominated stock and bond markets, as well as corporate transactions such as invoicing, contracts, and accounting in multinational operations.

It is worth noting that the virtual euro was used as a “parallel currency” as coins and banknotes (physical euros) were introduced, coexisting with the coins as a single currency, which allowed the creation of a single market and a unified financial system in the European Union.

Single Euro Payments Area (SEPA)

Once the euro began circulating in the member countries of the European Union (Eurozone), it was observed that using the same currency made it more convenient and easier to make payments. However, this could only be seen in payments using cash since there was still a gap in electronic payments at the personal, business, and medium-sized enterprise levels.

It was then that the European Union developed the Single Euro Payments Area (SEPA) initiative, which aimed to further consolidate the European market and financial system by simplifying and standardizing euro payments between member countries of the European Union.

SEPA payment system

The SEPA payment system was introduced into the European financial system in several stages:

SEPA payment system in 2008

In 2008, the SEPA Credit Transfer (SCT) system was introduced into the European financial system, standardizing euro credit transfers between member countries, thus enabling seamless and efficient cross-border payments.

SEPA payment system in 2009

In 2009, the SEPA Direct Debit (SDD) system was introduced into the European financial system, standardizing cross-border direct debit payments in euros. This SEPA Direct Debit system made it possible to automate recurring payments, such as utility bills or subscriptions, across member countries.

SEPA payment system in 2014

The year 2014 marked the deadline for Eurozone member countries to migrate to the SEPA system. It was required that by February 1, 2014, member countries would fully adopt the SEPA standards for their SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) transactions, in order to meet the goal of creating a unified and efficient payment system for cross-border transactions, allowing them to be as fluid as domestic transactions.

SEPA payment system in 2017

In 2017, the SEPA Instant Credit Transfer (SCT Inst or SEPA Instant) system was introduced into the European financial system. This allows for real-time euro payments, enabling transactions to be completed in as little as 10 seconds. In this way, SEPA payments offered a new level of transactional flexibility within the European financial system, offering speed and convenience for consumers and businesses within Eurozone member states.

SEPA payment system in 2025

In 2025, significant advances will be made in the SEPA payment system due to the implementation of new regulations, particularly related to the European Instant Payments Regulation. These new regulations require instant payments in euros within 10 seconds; therefore, all payment service providers (PSPs) in the eurozone must offer instant payment services in euros with fees comparable to traditional SEPA credit transfers.

Furthermore, in 2025, the SEPA Instant Credit Transfer Regulation (SCT Inst or SEPA Instant) introduces improvements to the European financial system, including the elimination of the maximum transaction amount, which will allow for higher-value instant payments.

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First signs of a bank account

Some experts mention that the first bank accounts took place in ancient Mesopotamia and ancient Egypt. This is because around the year 2000 B.C. in these two places, temples and palaces were used as a kind of “banks”, within which cereals, livestock, precious metals, and other basic products were deposited and guarded, which facilitated trade at that time, since in addition to managing resources, loans were also provided to farmers and merchants because these products were used as collateral.

It is worth noting that these ancient civilizations were not the only ones that used temples as “financial centers” to provide a sense of security, as it is known that ancient Greece and Rome also did so in their respective times.

Bank accounts in medieval and Renaissance times

Due to the use of financial centers in Roman times, it is known that it was in Italy (in medieval times) where bank accounts and modern banking systems were established and adopted, specifically in important cities such as Florence, Venice, Genoa, and important regions of northern Europe.

The Medici Bank was one of the first banks founded at the end of the 14th century (around 1397), where founder Giovanni di Bicci de’ Medici, who was an innovator in financial accounting since his bank managed and administered bank accounts that contained large fortunes belonging to both royalty and merchants from all over Italy.

However, it is known that in the 9th century, during the Tang Dynasty in China, bank accounts and banking systems were already being used since people could deposit their coins, and the bank would issue them a document that “certified” said deposit, which could, in turn, be used as a means of payment.

Bank accounts in the modern age

During the modern age (between the 15th and 18th centuries), banking accounts and systems underwent significant changes that laid important foundations for modern banking practices. During the 16th century, what is currently known as “international accounts” and the international banking system was developed since renowned banking institutions were established in southern Germany (Augsburg and Nuremberg), which were key elements for managing and administering large amounts of capital between northern and southern Europe.

Later, the banking system reached the northern regions of Europe. During the 17th century, Amsterdam (Dutch Republic) became a major financial center and pioneered innovative financial instruments such as the Amsterdam Stock Exchange and bills of exchange, which allowed bankers to efficiently transfer funds around Europe.

Bank accounts during colonization

During the 18th century, the Bank of England became a major player and financial center in Europe and the world, as, with the European powers and the broad wave of colonization around the world, London became a banking power with a banking system that was able to expand and establish itself in different colonial banks, which, through their bank accounts, facilitated trade and the administration of finances between the colony and the main center in Europe.

First modern bank accounts

Once banks were established, more financial services were developed in the 19th century, including bank accounts that allowed people, industries, and merchants to deposit their money for safekeeping. All of this served to introduce checks, which were a financial tool that allowed bank account holders to make payments without having to use large amounts of money.

The rise of banks and their wide acceptance led them to expand their reach, creating bank branches in different regions, which allowed more people to have access to financial services, among which savings accounts stood out, which were an innovative tool that encouraged people to deposit and save their money since the banking institution offered “interest” on the amount available in the bank account.

Bank accounts during the 20th century

At the beginning of the 20th century, the use of the telegraph was introduced and years later, it was the turn of the telephone. This technological advance allowed for improved communications between banks and branches, as well as between other banks. In this way, greater freedom was given in the management of the financial resources of bank account holders, especially to access their money from a place other than where the account was opened.

Another advance that the banking system had during the first half of the 20th century was the traveler’s check, which allowed bank account holders to have access to their money in other cities or countries in a safer way since there was no need to carry large sums of cash while traveling.

Bank accounts in the electronic age

Bank accounts in the second half of the 20th century benefited from significant technological advances, thanks to the adoption of electronics in banking systems and the arrival of the Internet. This technological advancement allowed the development of credit cards, ATMs, electronic banking, and online banking.

Through these new payment tools and instruments, bank account holders could use borrowed money to purchase products and services, and then pay for them through deposits and debits in their bank account.

On the other hand, the use of electronic banking, ATMs, and online banking allowed people to make transactions from their bank account at any time of the day, without having to go to a bank office.

Digital and multi-currency era

With the advent of the digital age and the adoption of smartphones, from the late 20th century to the present, a wide range of applications have been developed that have enabled the adoption of mobile banking, which allows bank account holders to access and manage their funds from anywhere in the world.

Subsequently, due to the adoption of technologies such as blockchain, banking entities, and Fintechs developed different financial tools (such as multi-currency accounts, wallets, and Exchange) to offer their clients the option of having bank accounts that support a wide range of currencies, store cryptocurrencies and allow transactions/exchanges between fiat currencies and cryptocurrencies.

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Regulatory framework

VASPs within the European Union operate under the regulatory framework set by the Fifth Anti-Money Laundering Directive (5AMLD), the Financial Action Task Force (FATF), and the Markets in Crypto-Assets Regulation (MiCA). VASPs must comply with strict regulations such as anti-money laundering (AML) obligations and countering the financing of terrorism (CFT) rules.

CASPs within the European Union, on the other hand, conduct their operations under MiCA regulations and are required to comply with strict licensing, governance, and AML/CFT compliance requirements.

Type of license

VASP licenses and CASP licenses have the following differences:

Type of service

Regarding the scope of VASP licenses, this allows financial entities and companies to offer a wide range of services related to virtual assets, such as cryptocurrency exchanges and custodial wallets. CASP, on the other hand, has a broader scope and covers a wider range of services, including the offer and marketing of crypto assets, custody, exchange, and management of trading platforms.

Market reach

The VASP license allows financial institutions and companies to operate in international markets with implementations that are specifically tailored to each country. The CASP license, on the other hand, allows financial institutions and companies to operate only within member countries of the European Union, based on the MiCA guidelines with a harmonized and standardized regulatory framework.

Monitoring and Registration

In the case of VASPs, firms must register with national authorities in each EU country and comply with local AML/CFT regulations. In the case of CASPs, on the other hand, an EU-wide authorisation is required, allowing a CASP registered in one country to operate across the EU under the “financial passport” principle.

Main Objective

In the case of VASP, their goal is to prevent financial crimes through identity checks and transaction monitoring. On the other hand, in the case of CASP, their goal is to establish a complete regulatory framework for crypto-assets, protecting investors and ensuring the proper functioning of the market.

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Borregard

Borregaard is a Norwegian biomass energy company specializing in producing advanced, environmentally friendly biochemicals from renewable raw materials such as wood and other natural raw materials. Borregaard is known for operating one of the most advanced and sustainable biorefineries in the world, which produces biochemicals capable of replacing petroleum-derived products, which can be used in different industrial sectors such as pharmaceuticals, construction, food, agriculture, and biofuels.

Renewable Energy Group, Inc. (REG)

Renewable Energy Group, Inc. (REG) is an American company that specializes in renewable fuels and clean energy solutions, specifically standing out in the biomass energy industry, as they have the capacity to produce renewable diesel and biodiesel through the transformation of natural oils and fats into high-quality fuel.

Ameresco, Inc.

Ameresco, Inc. is an American renewable energy company with the ability to design, build, and operate biomass fuel power plants and biomass cogeneration plants. The company is headquartered in Massachusetts, United States, but also offers renewable energy solutions (through biomass energy projects) in Canada and Europe, where it provides energy and heat from the transformation of forest waste, wood waste, and agricultural waste.

Rheinisch-Westfälisches Elektrizitätswerk AG (RWE)

Rheinisch-Westfälisches Elektrizitätswerk AG (RWE) is a German company specializing in renewable energies, which RWE specializes in biomass energy projects. RWE operates a large number of biomass power plants in Europe, which use waste wood and other organic materials to generate electricity and heat efficiently while maintaining strict quality and sustainability standards.

Drax Group

Drax Group is a British company specializing in the generation of energy from biomass. The company is characterized by operating one of the largest biomass power stations in the world, the Drax Power Station in North Yorkshire (England), which uses compressed wood pellets from forests, which are used to generate renewable and sustainable electricity. It is important to note that Drax Group is a pioneer in bioenergy with carbon capture and storage (BECCS) technology.

Granol Industry Trade and Export S/A

Granol Indústria Comércio e Exportação S/A is a Brazil-based company that specializes in biomass energy, standing out in the production of biodiesel from crude soybean oil, lecithin, glycerin, soybean flour, and tocopherol, thus emphasizing sustainability and the development of renewable energy in the region.

Green energy from Enel

Enel Green Power is an Italian-based company that specializes in renewable energy projects. It currently stands out for its focus on the development and application of biomass energy technology. Among its most emblematic projects is the hybrid plant in Tuscany (Italy), which complements geothermal energy sources (steam) with heat from biomass energy, which is essential for the generation of electrical energy in this plant energy.

Afvalverwerking Rijnmond (AVR)

Afvalverwerking Rijnmond (AVR) is a Dutch company specializing in the biomass energy sector. It stands out for being a company that, through its biomass power plants, converts non-recyclable wood waste into electricity, steam, and heating. Its greatest contribution to reducing carbon emissions is that in its biomass power plant, it uses wood waste that is not recyclable or that is considered contaminated and unusable, such as, for example, waste from painted wood or particle board (MDF).

Midland Archer Daniels Company (ADM)

Archer Daniels Midland Company (ADM) is an American company specializing in the production of biomass energy, especially ethanol and biodiesel. One of ADM’s contributions to the biomass energy sector is that it not only produces traditional biofuels but is currently exploring and developing new technologies to produce next-generation biofuels from cellulosic sources.

EnviTec Biogas AG

EnviTec Biogas AG is a German company specializing in biomass energy, especially in biogas technology. It is characterized by being a company that designs, builds, and operates biogas plants and, in turn, produces biomethane from the transformation of biogas, which is a renewable energy source. It is important to note that EnviTec Biogas AG is a company that operates and develops biomass energy projects in several countries, such as Italy, Great Britain, the Czech Republic, France, Denmark, the United States, China, Greece, and Estonia.

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What are CASPs?

CASP (Crypto Asset Service Provider) is a term used to refer to entities, companies, or individuals specialized in offering financial services related to digital assets and cryptocurrencies. Within this group of financial services, we can highlight custody services, crypto payment processors, digital wallets (Wallets), Exchanges, and consulting, among others.

What are CASP licenses?

CASP licenses aim to ensure that Crypto Asset Service Providers (CASPs) comply with the regulations established in the MiCA regulation and that they are authorized to offer services related to crypto assets and digital assets within the European Union.

Who regulates and oversees CASP licenses?

The MiCA regulatory framework states that the regulation, supervision, and granting of CASP licenses is the responsibility of the financial regulatory body designated by each of the European Union member states within their respective jurisdiction. In this way, each national financial authority will regulate and supervise the MiCA requirements within its respective jurisdiction, ensuring compliance with the regulatory framework in a balanced manner throughout the European Union.

How do you get a CASP license?

Crypto Asset Service Providers (CASPs) seeking to obtain an EU CASP license must have a reliable and secure system for handling crypto assets, comply with anti-money laundering laws, implement effective strategies to manage and minimize risks, as well as demonstrate operational transparency through constant and complete disclosure of financial information and transaction records.

The transition period for existing suppliers

As the application process for an EU CASP license can take several months, a transition period has been established for existing virtual asset service providers, ensuring that these providers comply with the new regulations set out in the Markets in Crypto-Assets Regulation (MiCA).

This transition period allows existing providers to continue their operations using existing licenses until mid-2026, by which time the MiCA regulation is expected to have been adopted into local legislation in all EU Member States.

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Beginnings

The concept of batch payment began with manual batch processing, specifically in the late 19th century. The punched card system (developed by statistician Herman Hollerith) made it possible to process data from the 1890 United States census in an innovative and efficient manner, as punched cards drastically reduced the time required to process census data. For example, instead of taking several years (as in previous censuses), processing data for the 1890 census took only a few months. The method involved encoding information by punching holes in the cards, which were read by a tabulating machine that could automatically count and sort the data.

Using mainframe computers

The use of punch cards not only improved efficiency but also marked the beginning of the application of technologies in the management of large volumes of data, laying the foundation for the modern computing and information technology industry. It is important to note that Hollerith’s technology was so successful that he later founded a company that would become IBM (International Business Machines).

Through the use of punch cards, companies entered data into central computers, which were then processed quickly and accurately, allowing different repetitive tasks to be automated with greater precision. This technology allowed companies to execute the first batch payments around 1950 to pay payroll, suppliers, and end-of-month reconciliations, which were repetitive tasks on a monthly basis.

This great technological advance allowed batch payment processes, data processing, inventory management, payroll, and billing to be carried out in a more efficient and secure way. For example, batch payment of payroll or vendors was achieved because companies could collect all employee and vendor paychecks into a single batch and process them together on the mainframe.

For monthly reconciliation, Batch Payments for Business allowed businesses to collect and process all financial information for the month, then batch process all the data on the mainframe to ensure the accuracy and consistency of all transactions.

Digital transition of batch payments

The last three decades of the 20th century saw a major technological advancement that benefited batch payments, making the system more efficient and accessible. The biggest breakthrough came in the early 1970s through the late 1980s with the adoption of the automated clearing house (ACH) system, which allowed banks to transact funds with other banking entities, helping to streamline batch payments to vendors and payroll. Instead of processing each transaction individually, ACH groups multiple payments into batches, significantly reducing costs and processing time.

With the advent of digitalization, electronic payment systems began to be integrated into business processes. Platforms such as electronic funds transfers (EFT) and automated clearing systems (ACH) enabled organizations to process multiple payments simultaneously, reducing costs and increasing efficiency.

Batch payment in the Internet era

At the end of the 20th century, batch payments underwent their second digital transformation, which led to them being adopted by more companies. During the 1990s, the Internet era emerged, which generated the creation of electronic commerce and, therefore, led financial institutions to offer online banking services, which allowed companies and consumers to market different products and services within the web, especially by using credit and debit cards to make electronic payments, either through emerging payment gateways and other digital payment systems, which allowed multiple payments to be made in a single transaction.

Batch payment in the 21st century

During the 21st century, batch payments have benefited from the advancement of technology and its application in financial systems. Batch payments are currently more efficient, secure, and profitable since Fintechs have developed software and online platforms that allow companies to automate their group payment processes, thus offering the possibility of having faster and more efficient financial transactions.

An example of the significant advances and collaborations that the organizations have had, financial institutions and companies in the last two decades, is the adoption and implementation of the SEPA payment system, which has allowed for efficient “batch payment” transactions within the countries belonging to the Eurozone.

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Purpose

The Digital Operational Resilience Act (DORA) and the Markets in Cryptoassets Regulation (MiCA) are European Union regulations that serve different purposes. For example, the Digital Operational Resilience Act (DORA) aims to ensure the resilience of financial institutions and service providers to information technology risks and to reduce the risk of cyberattacks on communication (ICT).

For its part, the Cryptoasset Markets Regulation (MiCA) aims to create a regulatory framework for cryptoassets within the member states of the European Union, providing greater legal certainty and protection, both to consumers and to the market in general.

Scope

The DORA Law was developed to be applied to financial institutions and critical entities within the European Union financial market, which must comply with the DORA Law by adopting and applying ICT systems and processes that allow them to withstand possible failures or operational interruptions, in addition to other risks related to information and communication technologies (ICT).

On the other hand, MiCA has a more limited scope in relation to the DORA law, since MiCA was developed to be applied to entities, institutions, and companies providing financial services and organizations that operate in the market and that are involved in the issuance, negotiation, and custody of cryptoassets (Crypto Asset Service Providers, CASP) within the European Union.

Approach

The DORA Act primarily focuses on ensuring the resilience, responsiveness, and recovery of financial institutions and firms within the European Union that may be affected by operational disruptions and ICT-related cyber threats.

On the other hand, MiCA focuses primarily on ensuring that the crypto-asset market within the European Union remains with a high degree of integrity and financial stability, as well as guaranteeing the trust and security of consumers and investors.

Key elements

The Digital Operational Resilience Act (DORA) and the Markets in Cryptoassets Regulation (MiCA) differ in the way they regulate, as they make use of different key elements to achieve their objective.

DORA Act seeks to improve the resilience of companies, financial institutions, and ICTs through key elements such as risk management, third-party monitoring (critical ICT service providers), incident reporting standards, and ICT system testing.

MiCA, for its part, seeks to regulate the cryptoasset market through key elements such as requirements for cryptoasset issuers and service providers, rules for cryptoasset trading platforms, and the classification and regulation of cryptoassets.

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Calpine Corporation

Calpine Corporation is an American company that was founded in 1984. It is characterized by being a company specialized in renewable energy and is currently the main generator of electric energy in the United States, mainly taking advantage of sources such as natural gas and geothermal resources. The company has an approximate generation capacity of 27,000 megawatts, with which it can supply energy to 27 million homes.

Calpine Corporation operates The Geysers project, the world’s largest geothermal energy complex, which harnesses natural steam from deep wells to generate clean, renewable electricity—enough to supply half of the geothermal energy consumed by the state of California.

Energy Development Corporation (EDC)

Energy Development Corporation (EDC) is a geothermal energy company based in the Philippines, known for being the number one geothermal energy producer in the Philippines and the second largest producer in the world. Energy Development Corporation operates geothermal power plants in various regions of the Philippines, through which they offer 100% renewable and affordable energy.

Enel Green Power

Enel Green Power is an Italian company founded in 2008. It is part of the Enel Group and is known for being a company specialized in the development and management of renewable energies, such as geothermal energy. Through its geothermal power plants, Enel Green Power is able to extract heat from deep wells (3,000 meters deep) to convert it into electrical or thermal energy.

Ormat Technologies

Ormat Technologies is an American company founded in 1965 and specializes in geothermal energy. Headquartered in Nevada (United States), it is characterized by being a company specializing in the exploration, design, development, construction, and operation of geothermal power plants around the world. It stands out for its more than 190 geothermal power plants distributed in different projects in North America, South America, Europe, Asia, and Australia.

Pertamina Geothermal Energy

Pertamina Geothermal Energy is a company founded in 2006 and is part of PT Pertamina or Perseo (Indonesia’s state-owned oil and gas company). Pertamina Geothermal Energy is characterized by being a company focused on the exploration and use of geothermal resources in Indonesia, a country with extensive geothermal potential thanks to its geographical location on the “Ring of Fire,” a 40,000-kilometer-long tectonic chain located in the Pacific Ocean, shaped like a horseshoe and characterized by high seismic and volcanic activity.

It is worth noting that thanks to Pertamina Geothermal Energy’s ability to provide 82% of Indonesia’s installed geothermal energy capacity, they have managed to reduce CO2 emissions by almost 10 million tons per year, thus contributing to national and global decarbonization.

Novomet

Novomet is a Russian company founded in 2018 that specializes in the design, development, construction, and installation of geothermal technologies. It is a company that offers a wide range of solutions for the completion and production of wells, including equipment for upper and lower completion systems necessary for the exploitation of geothermal resources. Novomet offers technology, products, and services that ensure the efficient, reliable, and sustainable operation of geothermal wells in the long term.

China Shaanxi Geothermal Energy Development Corporation

China Shaanxi Geothermal Energy Development Corporation is a Chinese company founded in 2013 that specializes in renewable energy, particularly in the geothermal energy sector. It is characterized by being a company that takes advantage of geothermal resources to produce clean and sustainable energy. One of the most important projects is the Yangbajing geothermal power plant in Tibet and the Xianyang geothermal power plant in Shaanxi.

NIBE Group

NIBE Group is a Swedish company founded in 1955, specializing in the design, development, manufacturing, and supply of energy solutions for air conditioning and indoor heating. NIBE Group is currently a company with a presence around the world and has focused on the distribution of products that offer an efficient solution for air conditioning and indoor heating by using solar and geothermal energy. Among the most important products supplied by NIBE Group are heat pumps and geothermal installation equipment.

Terra-Gen Power

Terra-Gen Power is an American company founded in 2007 that specializes in the exploration, design, development, and operation of utility-scale renewable energy projects. Terra-Gen Power is one of the leading companies in the United States that generates renewable energy through different technologies, including geothermal, solar, and wind energy, thus promoting and contributing to sustainable energy solutions.

Alterra Power Corp

Alterra Power Corp is a Canadian company founded in 2011 that specializes in the generation of renewable energy, where it stands out for its hydroelectric, wind, solar, and geothermal power plants. It is worth noting that Alterra Power Corp’s geothermal operations are primarily carried out in the United States and Iceland, such as the Reykjanes geothermal power plant in Iceland, which has an installed generating capacity of approximately 100 MW.

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Regulates only large entities or companies

Many people and companies believe that the Markets in Crypto Assets Regulation (MiCA) applies only to large financial institutions and companies (crypto asset service providers or CASPs). However, the truth is that MiCA is a regulation that applies to entities and companies of all sizes (small, medium, and large); therefore, it ensures that all crypto asset service providers comply with the different regulatory standards.

Regulates only entities and companies established in the EU

Many people and companies assume that the Markets in Crypto Assets Regulation (MiCA) applies only to financial institutions and companies (crypto asset service providers) based within the European Union. However, this is not entirely correct. MiCA regulates all providers “operating” within the territory of the European Union, even if they are established in other countries or regions. For example, a crypto-asset service provider based in the United States but providing services within the European Union will also be required to comply with this regulation.

Highly restrictive regulations that prevent innovation

Some people and companies think that the Markets in Crypto Assets Regulation (MiCA) is a very restrictive regulation, which can hinder technological growth and innovation. However, the truth is that this regulation (even though it has high standards) also allows flexibility and adaptation to technological advances, in addition to promoting innovation through a clear legal framework so that companies (that provide these services) can operate efficiently and legally.

Restrict or ban cryptocurrencies

Many people and businesses have come to believe that the Markets in Crypto Assets Regulation (MiCA) restricts or bans cryptocurrencies. However, the truth is that this regulation does not ban cryptocurrencies; on the contrary, its objective is to help develop the market by regulating crypto-asset products/services to ensure transparency and consumer protection.

Just regulate stablecoin

Many people and companies have come to think that the Markets in Crypto Assets Regulation (MiCA) only regulates stablecoins (for example, Tether USDT). However, the truth is that this regulation is designed to regulate a wide range of cryptocurrencies, cryptoassets and complementary services, among which stand out electronic money tokens, asset-referenced tokens, stablecoins, cryptocurrencies (such as Bitcoin and Etherum) and other digital assets, which allows to guarantee greater control and transparency in the crypto asset market.

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