A crypto-asset is the legal term for cryptocurrenciesCryptocurrencyA digital currency secured by cryptography and recorded on a shared ledger, with no bank or government issuing or controlling it. and tokens. MiCA defines it as "a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology". Icelandic law uses the same definition for the Icelandic term, sýndareign.
Cryptocurrency or crypto-asset?
In everyday speech we say cryptocurrency or crypto. Crypto-asset is the word the law uses, for example Iceland's Act No. 101/2025 on markets in crypto-assets and Act No. 140/2018 on anti-money laundering. The definition comes from MiCAMiCAThe EU regulation on markets in crypto-assets, in force in Iceland since 1 January 2026, which sets the same rules for crypto services across the EEA., the EU regulation on markets in crypto-assets.
"Distributed ledger technology" is legal language for blockchainsBlockchainA public ledger where transactions are grouped into blocks, each linked to the one before, so past records can't be altered without it showing. and similar technology. So bitcoin, ether and stablecoinsStablecoinA cryptocurrency designed to keep a steady price, usually by tracking the US dollar or another currency. are all crypto-assets.
Types of crypto-asset
MiCA sorts crypto-assets into three groups:
- E-money tokens aim to keep a stable value by referencing a single official currency, such as USDC and the US dollar.
- Asset-referenced tokens aim to keep a stable value by referencing other assets or a mix of them, such as several currencies.
- Other crypto-assets, such as bitcoin and ether.
Some things fall outside MiCA even though they are recorded on a blockchain. These include tokens that count as financial instruments, such as securities, and NFTsNFT (non-fungible token)A unique token on a blockchain that records who owns a specific item, such as a piece of digital art, a ticket or an item in a game. that are unique and not interchangeable.
Being a crypto-asset says nothing about whether something is valuable or safe. It only says which rules apply to it.
Everything in Myntkaup Learn is written and regularly reviewed by the Myntkaup editorial team. It is for education and is not investment advice. Editorial policy. Updated 18 October 2026.