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Asset-referenced tokens (ART)

Several fiat currencies, one or several commodities or one or several crypto-assets, or a combination of such assets (the so called “reserve assets”) within the MiCA context.



Crypto-asset service provider (CASP)

Any person whose occupation or business is the provision of one or more crypto-asset services to third parties on a professional basis.


Decentralized Identifier (DID)

W3C defines a Decentralized Identifier (DID) as a portable URL-based identifier ... associated with an entity ... An example of a DID is did:example:123456abcdef"*

E-money tokens (EMT)

A type of crypto asset for one single fiat currency


Any person or entity that is able to perform legal activities, such as enter into contracts, own property, and so on


Market in Crypto-Assets (MiCA)

Legislation that covers crypto assets in the European Union



An entity that is established by governments or other organizations to oversee the functioning and fairness of financial markets and the firms that engage in financial activity.


Self-sovereign identity (SSI)

An approach to digital identity that gives individuals control of their digital identities


Verifiable credential (VC)

A standard data model and representation format for cryptographically-verifiable digital credentials defined by the W3C Verifiable Credentials specification

Verifiable data registry (VDR)

A system that facilitates the creation, verification, updating, and/or deactivation of decentralized identifiers and DID documents. A verifiable data registry might also be used for other cryptographically-verifiable data structures such as verifiable credentials.

Verifiable presentation (VP)

A tamper-evident presentation encoded in such a way that authorship of the data can be trusted after a process of cryptographic verification

Virtual Asset Service Provider (VASP)

FATF defines a virtual asset service provider (VASP) as the following: “Any natural/legal person who ... as a business conducts one or more of the following activities or operations for or on behalf of another natural or legal person: i. exchange between virtual assets and fiat currencies; ii. exchange between one or more forms of virtual assets; iii. transfer of virtual assets; iv. safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets; and v. participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset.” FATF guidance to the G20


Zero-knowledge Proof (ZKP)

In cryptography, a zero-knowledge proof or zero-knowledge protocol is a method by which one party (the prover) can prove to another party (the verifier) that a given statement is true, without conveying any information apart from the fact that the statement is indeed true. The essence of zero-knowledge proofs is that it is trivial to prove that one possesses knowledge of certain information by simply revealing it; the challenge is to prove such possession without revealing the information itself or any additional information (Zero-knowledge proof on wikipedia).