Does Chia Network intend to register XCH as a utility token for the EU market?
XCH is not issued by Chia Network Inc, but by the chia blockchain network.
Those layer 1 network tokens don’t fall under MiCAR, as far as I know.
Correct - MICA doesn’t bring utility/network coins into its realm so far.
Utility coins are in fact regulated, but the requirements are way more related than with the other token types (you need a whitepaper and then follow it, in essence)
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My read of Chapter II is that XCH is exempt because no “offer” is being made and all three exceptions in 3 (a), (b), and (c) all apply when only one would suffice.
For reference Title II Crypto-Assets, other than asset-referenced tokens or e-money tokens – MiCA Papers
Yes, I agree, XCH is most likely not considered a utility token under MiCAR.
Ah, I see. The vocabulary around token names in the US currently conflicts with that in Europe so I accidentally misnamed XCH under MICA.
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For XCH to be traded on a CEX for its EU customers, it’d still require to comply to the MiCA framework.
Don’t be surprised by what will come to be compliant in the EU. Could be the EU market isn’t important for CNI, but I heard, many countries are considering to adopt MiCA.
It is compliant as explained above