{"id":180225,"date":"2026-06-15T21:00:04","date_gmt":"2026-06-15T21:00:04","guid":{"rendered":"http:\/\/ktromedia.com\/?p=180225"},"modified":"2026-06-15T21:00:04","modified_gmt":"2026-06-15T21:00:04","slug":"mica-%e5%ae%bd%e9%99%90%e6%9c%9f%e5%8d%b3%e5%b0%86%e7%bb%93%e6%9d%9f%ef%bc%8c%e6%ac%a7%e6%b4%b2-75-%e7%9a%84%e5%8a%a0%e5%af%86%e8%b4%a7%e5%b8%81%e5%85%ac%e5%8f%b8%e9%9d%a2%e4%b8%b4%e9%80%80%e5%87%ba","status":"publish","type":"post","link":"https:\/\/ktromedia.com\/?p=180225","title":{"rendered":"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400;\">\u6b27\u6d32\u7684\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6b63\u8fdb\u5165\u591a\u5e74\u6765\u6700\u5177\u7834\u574f\u6027\u7684\u51e0\u5468\u4e4b\u4e00\u3002\u8ddd\u79bb\u6b27\u76df\u53ec\u5f00\u4ec5\u526916\u5929 <\/span><a href=\"https:\/\/www.esma.europa.eu\/esmas-activities\/digital-finance-and-innovation\/markets-crypto-assets-regulation-mica\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">\u7c73\u5361<\/span><\/a><span style=\"font-weight: 400;\">  \u5bbd\u9650\u671f\u6b63\u5f0f\u7ed3\u675f\uff0c\u591a\u8fbe\u56db\u5206\u4e4b\u4e09\u7684\u975e\u6d32\u5927\u9646\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u5c06\u5931\u53bb\u5408\u6cd5\u7ecf\u8425\u6743\u2014\u2014\u8fd9\u4e00\u76d1\u7ba1\u6e05\u7b97\u53ef\u80fd\u4f1a\u91cd\u5851\u5e02\u573a\uff0c\u5e76\u4f7f\u6570\u767e\u4e07\u96f6\u552e\u7528\u6237\u4e89\u76f8\u5bfb\u627e\u66ff\u4ee3\u54c1\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2026 \u5e74 7 \u6708 1 \u65e5\u662f\u6b27\u76df\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a\u76d1\u7ba1\u89c4\u5b9a\u7684\u7edd\u5bf9\u786c\u6027\u622a\u6b62\u65e5\u671f\u3002\u5728\u6b64\u65e5\u671f\u4e4b\u540e\uff0c\u4efb\u4f55\u5728\u6ca1\u6709\u6709\u6548 MiCA \u8bb8\u53ef\u8bc1\u7684\u60c5\u51b5\u4e0b\u5411\u6b27\u76df\u5ba2\u6237\u63d0\u4f9b\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u7684\u5b9e\u4f53\u90fd\u5c06\u8fdd\u53cd\u6b27\u76df\u6cd5\u5f8b\uff0c\u5fc5\u987b\u7acb\u5373\u505c\u6b62\u8fd0\u8425\u3002 ESMA \u5df2\u660e\u786e\u8868\u793a\uff1a\u4e0d\u4f1a\u6709\u8fdb\u4e00\u6b65\u7684\u5bbd\u9650\u671f\u6216\u5ef6\u671f\u3002<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Market_Left_Behind\"\/><span style=\"font-weight: 400;\">\u843d\u540e\u7684\u5e02\u573a<\/span><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">\u8fd9\u4e9b\u6570\u5b57\u8bb2\u8ff0\u4e86\u4e00\u4e2a\u4e25\u5cfb\u7684\u6545\u4e8b\u3002 <\/span><a href=\"https:\/\/www.hoganlovells.com\/en\/publications\/as-micas-transitional-periods-expires-europes-crypto-market-faces-a-reckoning\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">\u970d\u91d1\u8def\u4f1f (Hogan Lovells) \u7684\u6cd5\u5f8b\u5206\u6790<\/span><\/a><span style=\"font-weight: 400;\">  \u636e\u4f30\u8ba1\uff0c\u5728 MiCA \u4e4b\u524d\u6b27\u6d32\u5df2\u6709\u8d85\u8fc7 3,000 \u5bb6\u6ce8\u518c\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff0c\u4ec5\u6ce2\u5170\u5c31\u6709\u8d85\u8fc7 1,400 \u5bb6\u4f20\u7edf\u6ce8\u518c\u3002\u5230 2026 \u5e74 5 \u6708\uff0c\u6388\u6743\u7684\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\u6570\u91cf\u5df2\u964d\u81f3 194 \u5bb6\uff0c\u5176\u4e2d\u5305\u62ec\u4fe1\u8d37\u673a\u6784\u2014\u2014\u8be5\u516c\u53f8\u4f30\u8ba1\uff0c\u968f\u7740\u8fc7\u6e21\u671f\u5230\u671f\uff0c\u5927\u7ea6\u56db\u5206\u4e4b\u4e09\u7684\u524d MiCA VASP \u4eba\u53e3\u53ef\u80fd\u4f1a\u5931\u53bb\u6ce8\u518c\u8eab\u4efd\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5982\u679c\u6309\u529f\u80fd\u7ec6\u5206\uff0c\u6388\u6743\u6570\u5b57\u751a\u81f3\u66f4\u8584\u3002\u6839\u636e ESMA \u548c 2026 \u5e74 6 \u6708\u7684\u884c\u4e1a\u6570\u636e\uff0c\u6574\u4e2a\u6b27\u76df\u5927\u7ea6\u6709 183 \u5bb6\u516c\u53f8\u62e5\u6709 MiCA \u5b8c\u5168\u6388\u6743\uff0c\u4f46\u83b7\u51c6\u8fd0\u884c\u5b9e\u9645\u4ea4\u6613\u5e73\u53f0\u7684\u516c\u53f8\u6570\u91cf\u53ea\u6709 14 \u5bb6\u3002\u5341\u4e2a\u6b27\u76df\u6210\u5458\u56fd\u5b8c\u5168\u53d1\u653e\u4e86\u96f6\u8bb8\u53ef\u8bc1\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u6ce2\u5170\u662f\u6700\u7d27\u8feb\u7684\u6848\u4f8b\uff0c\u5b83\u662f MiCA \u4e4b\u524d\u52a0\u5bc6\u8d27\u5e01\u8bb8\u53ef\u6700\u53d7\u6b22\u8fce\u7684\u6b27\u6d32\u53f8\u6cd5\u7ba1\u8f96\u533a\u4e4b\u4e00\uff0c\u4f46\u622a\u81f3 2026 \u5e74 3 \u6708\uff0c\u5f53\u5730 MiCA \u5b9e\u65bd\u7acb\u6cd5\u4ecd\u672a\u901a\u8fc7\u3002\u6cd5\u56fd\u63d0\u51fa\u4e86\u4e00\u79cd\u4e0d\u540c\u7c7b\u578b\u7684\u8b66\u544a\u4fe1\u53f7\uff1a\u622a\u81f3 2026 \u5e74 1 \u6708\uff0c\u5927\u7ea6 90 \u5bb6\u65e0\u6267\u7167\u7684\u6cd5\u56fd\u516c\u53f8\u4e2d\u53ea\u6709 30% \u7533\u8bf7\u4e86 MiCA \u6388\u6743\uff0c\u800c\u53e6\u5916 40% \u7684\u516c\u53f8\u6839\u672c\u4e0d\u6253\u7b97\u7533\u8bf7\u3002<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"lazyload size-large wp-image-97883\" src=\"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg\" alt=\"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa\" width=\"1024\" height=\"576\"\/><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa<\/span><\/i><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who_Got_Licensed\"\/><span style=\"font-weight: 400;\">\u8c01\u83b7\u5f97\u4e86\u8bb8\u53ef<\/span><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">\u5728\u6210\u529f\u664b\u7ea7\u7684\u4e3b\u8981\u4eba\u7269\u4e2d\uff0c <\/span><a href=\"https:\/\/bitvavo.com\/en\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">\u6218\u6597<\/span><\/a><span style=\"font-weight: 400;\">  \u83b7\u5f97\u8377\u5170AFM\u6388\u6743\uff0c <\/span><a href=\"https:\/\/www.bitpanda.com\/en\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">\u6bd4\u7279\u718a\u732b<\/span><\/a><span style=\"font-weight: 400;\">  \u6765\u81ea\u5965\u5730\u5229FMA\uff0c <\/span><a href=\"https:\/\/www.kraken.com\/\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">\u514b\u62c9\u80af<\/span><\/a><span style=\"font-weight: 400;\">  \u6765\u81ea\u7231\u5c14\u5170\u4e2d\u592e\u94f6\u884c\u548c\u5362\u68ee\u5821CSSF\uff0c\u4ee5\u53ca\u6765\u81ea\u7231\u5c14\u5170\u4e2d\u592e\u94f6\u884c\u7684Coinbase\u3002\u5e01\u5b89\u5728\u5176\u6b27\u76df\u5b9e\u4f53\u91cd\u65b0\u6ce8\u518c\u540e\u4e8e 2025 \u5e74\u83b7\u5f97\u4e86\u9996\u6b21\u5b8c\u6574\u7684 MiCA \u6388\u6743\uff0c\u5176\u62a4\u7167\u73b0\u5df2\u8986\u76d6\u6240\u6709 27 \u4e2a\u6210\u5458\u56fd\u3002 Crypto.com \u548c OKX \u901a\u8fc7\u9a6c\u8033\u4ed6 MFSA \u83b7\u5f97\u6388\u6743\uff0cBitstamp \u5728\u5362\u68ee\u5821\u83b7\u5f97\u6279\u51c6\uff0cRevolut \u901a\u8fc7\u585e\u6d66\u8def\u65af CySEC \u83b7\u5f97\u6279\u51c6\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u4f46\u8fd9\u4e9b\u53ea\u5360\u66f4\u5e7f\u9614\u5e02\u573a\u7684\u4e00\u5c0f\u90e8\u5206\u3002 MiCA \u6388\u6743\u7684\u5408\u89c4\u6210\u672c\u5728 250,000 \u6b27\u5143\u5230 500,000 \u6b27\u5143\u4e4b\u95f4\uff0c\u8fd9\u4e00\u8d1f\u62c5\u5b9e\u9645\u4e0a\u4f7f\u7f3a\u4e4f\u8d44\u672c\u50a8\u5907\u548c\u6cd5\u5f8b\u57fa\u7840\u8bbe\u65bd\u6765\u652f\u6301\u5e94\u7528\u7a0b\u5e8f\u7684\u4e2d\u5c0f\u578b\u8fd0\u8425\u5546\u671b\u800c\u5374\u6b65\u3002<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Unlicensed_Firms_Must_Now_Do\"\/><span style=\"font-weight: 400;\">\u65e0\u8bc1\u516c\u53f8\u73b0\u5728\u5fc5\u987b\u505a\u4ec0\u4e48<\/span><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">7 \u6708 1 \u65e5\u4e4b\u540e\uff0c\u65e0\u8bc1\u5b9e\u4f53\u73b0\u5728\u9762\u4e34\u4e94\u79cd\u9009\u62e9\uff1a\u83b7\u5f97\u8bb8\u53ef\u8bc1\u3001\u5b8c\u5168\u505c\u6b62\u8fd0\u8425\u3001\u6709\u5e8f\u5173\u95ed\u3001\u5c06\u5ba2\u6237\u8f6c\u79fb\u7ed9\u6388\u6743\u63d0\u4f9b\u5546\u6216\u4e0e\u8bb8\u53ef\u8bc1\u6301\u6709\u8005\u5408\u5e76\u3002\u5bf9\u4e8e\u5c1a\u672a\u7533\u8bf7\u7684\u516c\u53f8\u6765\u8bf4\uff0c\u7b2c\u4e00\u79cd\u9009\u62e9\u4e0d\u518d\u73b0\u5b9e\u2014\u2014MiCA \u6388\u6743\u901a\u5e38\u9700\u8981\u6570\u6708\u7684\u76d1\u7ba1\u5ba1\u67e5\uff0c\u8fd9\u610f\u5473\u7740\u7a97\u53e3\u5b9e\u9645\u4e0a\u5728\u51e0\u5468\u524d\u5c31\u5173\u95ed\u4e86\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5c1a\u672a\u83b7\u5f97\u8bb8\u53ef\u7684\u5e73\u53f0\u9884\u8ba1\u5c06\u901a\u8fc7\u505c\u6b62\u65b0\u5b58\u6b3e\u3001\u9650\u5236\u5165\u804c\u6d3b\u52a8\u4ee5\u53ca\u9f13\u52b1\u5ba2\u6237\u63d0\u53d6\u8d44\u4ea7\u6216\u5c06\u5176\u8f6c\u79fb\u7ed9\u6388\u6743\u63d0\u4f9b\u5546\u6765\u9010\u6b65\u9650\u5236\u670d\u52a1\u3002 ESMA\u6b64\u524d\u8868\u793a\uff0c\u4f9d\u8d56\u8fc7\u6e21\u5b89\u6392\u7684\u516c\u53f8\u5e94\u57287\u67081\u65e5\u622a\u6b62\u65e5\u671f\u4e4b\u524d\u5c3d\u65e9\u51c6\u5907\u597d\u5e94\u6025\u8ba1\u5212\u3002<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"France_Sets_the_Enforcement_Standard\"\/><span style=\"font-weight: 400;\">\u6cd5\u56fd\u5236\u5b9a\u6267\u884c\u6807\u51c6<\/span><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">\u6cd5\u56fd\u5df2\u660e\u786e\u8868\u793a\u4e0d\u4f1a\u5f00\u73a9\u7b11\u3002 AMF \u5df2\u6307\u793a\u672a\u7ecf\u8bb8\u53ef\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u4ece 7 \u6708 1 \u65e5\u8d77\u505c\u6b62\u8fd0\u8425\uff0cAMF \u4e3b\u5e2d Marie-Anne Barbat-Layani \u5728 5 \u6708 28 \u65e5\u7684\u5df4\u9ece\u65b0\u95fb\u53d1\u5e03\u4f1a\u4e0a\u8b66\u544a\u79f0\uff0c\u5728\u622a\u6b62\u65e5\u671f\u540e\u7ee7\u7eed\u65e0\u8bc1\u4e3a\u6b27\u76df\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u7684\u516c\u53f8\u5c06\u9762\u4e34\u5211\u4e8b\u8d77\u8bc9\u2014\u2014\u6839\u636e\u6cd5\u56fd\u6cd5\u5f8b\uff0c\u6700\u9ad8\u53ef\u5224\u5904\u4e24\u5e74\u76d1\u7981\u548c 3 \u4e07\u6b27\u5143\u7f5a\u6b3e\u3002 AMF \u8fd8\u53ef\u4ee5\u5c06\u4e0d\u5408\u89c4\u7684\u8fd0\u8425\u5546\u5217\u5165\u516c\u5171\u9ed1\u540d\u5355\u3001\u5411\u6d88\u8d39\u8005\u53d1\u51fa\u8b66\u544a\uff0c\u5e76\u8981\u6c42\u6cd5\u9662\u547d\u4ee4 ISP \u963b\u6b62\u8bbf\u95ee\u672a\u7ecf\u8bb8\u53ef\u7684\u5e73\u53f0\u7f51\u7ad9\u3002<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Test_for_EU_Passporting\"\/><span style=\"font-weight: 400;\">\u6b27\u76df\u62a4\u7167\u6d4b\u8bd5<\/span><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">\u9664\u4e86\u76f4\u63a5\u7684\u5e02\u573a\u6df7\u4e71\u4e4b\u5916\uff0c7 \u6708 1 \u65e5\u7684\u6700\u540e\u671f\u9650\u4e5f\u5c06\u6210\u4e3a MiCA \u6838\u5fc3\u627f\u8bfa\u7684\u8bd5\u91d1\u77f3\u2014\u2014\u5411\u6240\u6709 27 \u4e2a\u6b27\u76df\u6210\u5458\u56fd\u6388\u4e88\u5355\u4e00\u8bb8\u53ef\u8bc1\u3002 ESMA \u81ea\u5df1\u7684\u4e34\u65f6 MiCA \u767b\u8bb0\u518c\uff08\u6700\u540e\u4e00\u6b21\u66f4\u65b0\u4e8e 6 \u6708 12 \u65e5\uff09\u4ecd\u7136\u662f\u7528\u6237\u548c\u516c\u53f8\u5fc5\u987b\u54a8\u8be2\u7684\u5b98\u65b9\u6765\u6e90\u3002\u5bf9\u4e8e\u7528\u6237\u6765\u8bf4\uff0c\u5173\u952e\u7684\u533a\u522b\u4e0d\u5728\u4e8e\u4ea4\u6613\u6240\u662f\u5426\u62e5\u6709\u53ef\u8bc6\u522b\u7684\u54c1\u724c\u6216\u53ef\u7528\u7684\u5e94\u7528\u7a0b\u5e8f\uff0c\u800c\u5728\u4e8e\u4e3a\u4ed6\u4eec\u63d0\u4f9b\u670d\u52a1\u7684\u786e\u5207\u6cd5\u4eba\u5b9e\u4f53\u662f\u5426\u62e5\u6709 MiCA \u6388\u6743\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u5173\u4e8e\u56fd\u5bb6\u76d1\u7ba1\u673a\u6784\u4e00\u81f4\u6027\u7684\u95ee\u9898\u5df2\u7ecf\u6d6e\u51fa\u6c34\u9762\u3002\u9a6c\u8033\u4ed6\u7684\u5ba1\u6279\u901f\u5ea6\u53d7\u5230\u4e86 ESMA \u7684\u5ba1\u67e5\uff0c\u6b27\u76df\u59d4\u5458\u4f1a\u63d0\u8bae\u5c06 CASP \u76d1\u7ba1\u96c6\u4e2d\u5728 ESMA \u5185\u90e8\u2014\u2014\u9a6c\u8033\u4ed6\u516c\u5f00\u53cd\u5bf9\u6b64\u4e3e\uff0c\u56e0\u4e3a\u62c5\u5fc3\u5931\u53bb\u5bf9\u5176\u5883\u5185\u83b7\u5f97\u8bb8\u53ef\u7684\u4e3b\u8981\u516c\u53f8\u7684\u76d1\u7ba1\u3002<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u8ddf\u8e2a\u8fd9\u4e00\u8f6c\u578b\u7684\u5f8b\u5e08\u4e8b\u52a1\u6240\u9884\u8ba1\uff0c\u5230 2026 \u5e74\u4e0b\u534a\u5e74\u5c06\u51fa\u73b0\u4e00\u6ce2\u6574\u5408\u6d6a\u6f6e\u30027 \u6708 1 \u65e5\u4e4b\u540e\u51fa\u73b0\u7684\u6b27\u6d32\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u5c06\u660e\u663e\u7f29\u5c0f\uff0c\u7531\u8d44\u672c\u5145\u8db3\u7684\u673a\u6784\u4e3b\u5bfc\uff0c\u8fd9\u4e9b\u673a\u6784\u53ef\u4ee5\u5438\u6536 MiCA \u5408\u89c4\u7684\u6210\u672c\u548c\u590d\u6742\u6027\u3002\u5bf9\u4e8e\u6570\u767e\u5bb6\u65e0\u6cd5\u53c2\u4e0e\u6b27\u6d32\u6570\u5b57\u8d44\u4ea7\u5e02\u573a\u7684\u516c\u53f8\u4ee5\u53ca\u4f9d\u8d56\u5b83\u4eec\u7684\u7528\u6237\u6765\u8bf4\uff0c\u672a\u6765\u51e0\u5468\u5c06\u8feb\u4f7f\u4ed6\u4eec\u8fc5\u901f\u505a\u51fa\u51b3\u5b9a\uff0c\u51b3\u5b9a\u5728\u54ea\u91cc\u4ee5\u53ca\u662f\u5426\u53ef\u4ee5\u7ee7\u7eed\u53c2\u4e0e\u6b27\u6d32\u6570\u5b57\u8d44\u4ea7\u5e02\u573a\u3002<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u6b27\u6d32\u7684\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6b63\u8fdb\u5165\u591a\u5e74\u6765\u6700\u5177\u7834\u574f\u6027\u7684\u51e0\u5468\u4e4b\u4e00\u3002\u8ddd\u79bb\u6b27\u76df\u53ec\u5f00\u4ec5\u526916\u5929 \u7c73\u5361 \u5bbd\u9650\u671f\u6b63\u5f0f\u7ed3\u675f\uff0c\u591a\u8fbe\u56db\u5206\u4e4b\u4e09\u7684\u975e\u6d32\u5927\u9646\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u5c06\u5931\u53bb\u5408\u6cd5\u7ecf\u8425\u6743\u2014\u2014\u8fd9\u4e00\u76d1\u7ba1\u6e05\u7b97\u53ef\u80fd\u4f1a\u91cd\u5851\u5e02\u573a\uff0c\u5e76\u4f7f\u6570\u767e\u4e07\u96f6\u552e\u7528\u6237\u4e89\u76f8\u5bfb\u627e\u66ff\u4ee3\u54c1\u3002 2026 \u5e74 7 \u6708 1 \u65e5\u662f\u6b27\u76df\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a\u76d1\u7ba1\u89c4\u5b9a\u7684\u7edd\u5bf9\u786c\u6027\u622a\u6b62\u65e5\u671f\u3002\u5728\u6b64\u65e5\u671f\u4e4b\u540e\uff0c\u4efb\u4f55\u5728\u6ca1\u6709\u6709\u6548 MiCA \u8bb8\u53ef\u8bc1\u7684\u60c5\u51b5\u4e0b\u5411\u6b27\u76df\u5ba2\u6237\u63d0\u4f9b\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u7684\u5b9e\u4f53\u90fd\u5c06\u8fdd\u53cd\u6b27\u76df\u6cd5\u5f8b\uff0c\u5fc5\u987b\u7acb\u5373\u505c\u6b62\u8fd0\u8425\u3002 ESMA \u5df2\u660e\u786e\u8868\u793a\uff1a\u4e0d\u4f1a\u6709\u8fdb\u4e00\u6b65\u7684\u5bbd\u9650\u671f\u6216\u5ef6\u671f\u3002 \u843d\u540e\u7684\u5e02\u573a \u8fd9\u4e9b\u6570\u5b57\u8bb2\u8ff0\u4e86\u4e00\u4e2a\u4e25\u5cfb\u7684\u6545\u4e8b\u3002 \u970d\u91d1\u8def\u4f1f (Hogan Lovells) \u7684\u6cd5\u5f8b\u5206\u6790 \u636e\u4f30\u8ba1\uff0c\u5728 MiCA \u4e4b\u524d\u6b27\u6d32\u5df2\u6709\u8d85\u8fc7 3,000 \u5bb6\u6ce8\u518c\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff0c\u4ec5\u6ce2\u5170\u5c31\u6709\u8d85\u8fc7 1,400 \u5bb6\u4f20\u7edf\u6ce8\u518c\u3002\u5230 2026 \u5e74 5 \u6708\uff0c\u6388\u6743\u7684\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\u6570\u91cf\u5df2\u964d\u81f3 194 \u5bb6\uff0c\u5176\u4e2d\u5305\u62ec\u4fe1\u8d37\u673a\u6784\u2014\u2014\u8be5\u516c\u53f8\u4f30\u8ba1\uff0c\u968f\u7740\u8fc7\u6e21\u671f\u5230\u671f\uff0c\u5927\u7ea6\u56db\u5206\u4e4b\u4e09\u7684\u524d MiCA VASP \u4eba\u53e3\u53ef\u80fd\u4f1a\u5931\u53bb\u6ce8\u518c\u8eab\u4efd\u3002 \u5982\u679c\u6309\u529f\u80fd\u7ec6\u5206\uff0c\u6388\u6743\u6570\u5b57\u751a\u81f3\u66f4\u8584\u3002\u6839\u636e ESMA \u548c 2026 \u5e74 6 \u6708\u7684\u884c\u4e1a\u6570\u636e\uff0c\u6574\u4e2a\u6b27\u76df\u5927\u7ea6\u6709 183 \u5bb6\u516c\u53f8\u62e5\u6709 MiCA \u5b8c\u5168\u6388\u6743\uff0c\u4f46\u83b7\u51c6\u8fd0\u884c\u5b9e\u9645\u4ea4\u6613\u5e73\u53f0\u7684\u516c\u53f8\u6570\u91cf\u53ea\u6709 14 \u5bb6\u3002\u5341\u4e2a\u6b27\u76df\u6210\u5458\u56fd\u5b8c\u5168\u53d1\u653e\u4e86\u96f6\u8bb8\u53ef\u8bc1\u3002 \u6ce2\u5170\u662f\u6700\u7d27\u8feb\u7684\u6848\u4f8b\uff0c\u5b83\u662f MiCA \u4e4b\u524d\u52a0\u5bc6\u8d27\u5e01\u8bb8\u53ef\u6700\u53d7\u6b22\u8fce\u7684\u6b27\u6d32\u53f8\u6cd5\u7ba1\u8f96\u533a\u4e4b\u4e00\uff0c\u4f46\u622a\u81f3 2026 \u5e74 3 \u6708\uff0c\u5f53\u5730<\/p>\n","protected":false},"author":1,"featured_media":180226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":{"0":"post-180225","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nft"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa - Ktromedia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ktromedia.com\/?p=180225\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa - Ktromedia\" \/>\n<meta property=\"og:description\" content=\"\u6b27\u6d32\u7684\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6b63\u8fdb\u5165\u591a\u5e74\u6765\u6700\u5177\u7834\u574f\u6027\u7684\u51e0\u5468\u4e4b\u4e00\u3002\u8ddd\u79bb\u6b27\u76df\u53ec\u5f00\u4ec5\u526916\u5929 \u7c73\u5361 \u5bbd\u9650\u671f\u6b63\u5f0f\u7ed3\u675f\uff0c\u591a\u8fbe\u56db\u5206\u4e4b\u4e09\u7684\u975e\u6d32\u5927\u9646\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u5c06\u5931\u53bb\u5408\u6cd5\u7ecf\u8425\u6743\u2014\u2014\u8fd9\u4e00\u76d1\u7ba1\u6e05\u7b97\u53ef\u80fd\u4f1a\u91cd\u5851\u5e02\u573a\uff0c\u5e76\u4f7f\u6570\u767e\u4e07\u96f6\u552e\u7528\u6237\u4e89\u76f8\u5bfb\u627e\u66ff\u4ee3\u54c1\u3002 2026 \u5e74 7 \u6708 1 \u65e5\u662f\u6b27\u76df\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a\u76d1\u7ba1\u89c4\u5b9a\u7684\u7edd\u5bf9\u786c\u6027\u622a\u6b62\u65e5\u671f\u3002\u5728\u6b64\u65e5\u671f\u4e4b\u540e\uff0c\u4efb\u4f55\u5728\u6ca1\u6709\u6709\u6548 MiCA \u8bb8\u53ef\u8bc1\u7684\u60c5\u51b5\u4e0b\u5411\u6b27\u76df\u5ba2\u6237\u63d0\u4f9b\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u7684\u5b9e\u4f53\u90fd\u5c06\u8fdd\u53cd\u6b27\u76df\u6cd5\u5f8b\uff0c\u5fc5\u987b\u7acb\u5373\u505c\u6b62\u8fd0\u8425\u3002 ESMA \u5df2\u660e\u786e\u8868\u793a\uff1a\u4e0d\u4f1a\u6709\u8fdb\u4e00\u6b65\u7684\u5bbd\u9650\u671f\u6216\u5ef6\u671f\u3002 \u843d\u540e\u7684\u5e02\u573a \u8fd9\u4e9b\u6570\u5b57\u8bb2\u8ff0\u4e86\u4e00\u4e2a\u4e25\u5cfb\u7684\u6545\u4e8b\u3002 \u970d\u91d1\u8def\u4f1f (Hogan Lovells) \u7684\u6cd5\u5f8b\u5206\u6790 \u636e\u4f30\u8ba1\uff0c\u5728 MiCA \u4e4b\u524d\u6b27\u6d32\u5df2\u6709\u8d85\u8fc7 3,000 \u5bb6\u6ce8\u518c\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff0c\u4ec5\u6ce2\u5170\u5c31\u6709\u8d85\u8fc7 1,400 \u5bb6\u4f20\u7edf\u6ce8\u518c\u3002\u5230 2026 \u5e74 5 \u6708\uff0c\u6388\u6743\u7684\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\u6570\u91cf\u5df2\u964d\u81f3 194 \u5bb6\uff0c\u5176\u4e2d\u5305\u62ec\u4fe1\u8d37\u673a\u6784\u2014\u2014\u8be5\u516c\u53f8\u4f30\u8ba1\uff0c\u968f\u7740\u8fc7\u6e21\u671f\u5230\u671f\uff0c\u5927\u7ea6\u56db\u5206\u4e4b\u4e09\u7684\u524d MiCA VASP \u4eba\u53e3\u53ef\u80fd\u4f1a\u5931\u53bb\u6ce8\u518c\u8eab\u4efd\u3002 \u5982\u679c\u6309\u529f\u80fd\u7ec6\u5206\uff0c\u6388\u6743\u6570\u5b57\u751a\u81f3\u66f4\u8584\u3002\u6839\u636e ESMA \u548c 2026 \u5e74 6 \u6708\u7684\u884c\u4e1a\u6570\u636e\uff0c\u6574\u4e2a\u6b27\u76df\u5927\u7ea6\u6709 183 \u5bb6\u516c\u53f8\u62e5\u6709 MiCA \u5b8c\u5168\u6388\u6743\uff0c\u4f46\u83b7\u51c6\u8fd0\u884c\u5b9e\u9645\u4ea4\u6613\u5e73\u53f0\u7684\u516c\u53f8\u6570\u91cf\u53ea\u6709 14 \u5bb6\u3002\u5341\u4e2a\u6b27\u76df\u6210\u5458\u56fd\u5b8c\u5168\u53d1\u653e\u4e86\u96f6\u8bb8\u53ef\u8bc1\u3002 \u6ce2\u5170\u662f\u6700\u7d27\u8feb\u7684\u6848\u4f8b\uff0c\u5b83\u662f MiCA \u4e4b\u524d\u52a0\u5bc6\u8d27\u5e01\u8bb8\u53ef\u6700\u53d7\u6b22\u8fce\u7684\u6b27\u6d32\u53f8\u6cd5\u7ba1\u8f96\u533a\u4e4b\u4e00\uff0c\u4f46\u622a\u81f3 2026 \u5e74 3 \u6708\uff0c\u5f53\u5730\" \/>\n<meta property=\"og:url\" content=\"http:\/\/ktromedia.com\/?p=180225\" \/>\n<meta property=\"og:site_name\" content=\"Ktromedia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/KTROMedia\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-15T21:00:04+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"KTRO TEAM\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KTRO TEAM\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/ktromedia.com\/?p=180225#article\",\"isPartOf\":{\"@id\":\"http:\/\/ktromedia.com\/?p=180225\"},\"author\":{\"name\":\"KTRO TEAM\",\"@id\":\"https:\/\/ktromedia.com\/#\/schema\/person\/612bf2fbac107722ea365932cdd35f5b\"},\"headline\":\"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa\",\"datePublished\":\"2026-06-15T21:00:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/ktromedia.com\/?p=180225\"},\"wordCount\":43,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ktromedia.com\/#organization\"},\"image\":{\"@id\":\"http:\/\/ktromedia.com\/?p=180225#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg\",\"articleSection\":[\"Nft\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\/\/ktromedia.com\/?p=180225#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/ktromedia.com\/?p=180225\",\"url\":\"http:\/\/ktromedia.com\/?p=180225\",\"name\":\"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa - Ktromedia\",\"isPartOf\":{\"@id\":\"https:\/\/ktromedia.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\/\/ktromedia.com\/?p=180225#primaryimage\"},\"image\":{\"@id\":\"http:\/\/ktromedia.com\/?p=180225#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg\",\"datePublished\":\"2026-06-15T21:00:04+00:00\",\"breadcrumb\":{\"@id\":\"http:\/\/ktromedia.com\/?p=180225#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/ktromedia.com\/?p=180225\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\/\/ktromedia.com\/?p=180225#primaryimage\",\"url\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg\",\"contentUrl\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/ktromedia.com\/?p=180225#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ktromedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ktromedia.com\/#website\",\"url\":\"https:\/\/ktromedia.com\/\",\"name\":\"Ktromedia\",\"description\":\"KTRO MEDIA Crypto News\",\"publisher\":{\"@id\":\"https:\/\/ktromedia.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ktromedia.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ktromedia.com\/#organization\",\"name\":\"Ktromedia\",\"url\":\"https:\/\/ktromedia.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktromedia.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/11\/ktroicon.png\",\"contentUrl\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/11\/ktroicon.png\",\"width\":250,\"height\":250,\"caption\":\"Ktromedia\"},\"image\":{\"@id\":\"https:\/\/ktromedia.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/KTROMedia\/\",\"https:\/\/www.linkedin.com\/company\/ktro-media\/\",\"https:\/\/t.me\/ktrogroup\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ktromedia.com\/#\/schema\/person\/612bf2fbac107722ea365932cdd35f5b\",\"name\":\"KTRO TEAM\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktromedia.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/10\/cropped-Untitled-design-7-1-150x150.png\",\"contentUrl\":\"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/10\/cropped-Untitled-design-7-1-150x150.png\",\"caption\":\"KTRO TEAM\"},\"description\":\"KTRO MEDIA \u662f\u4e00\u5bb6\u5168\u7403\u6027\u7684\u534e\u6587WEB3\u5a92\u4f53\u516c\u53f8\u3002\u6211\u4eec\u81f4\u529b\u4e8e\u4e3a\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u9886\u57df\u63d0\u4f9b\u6700\u65b0\u7684\u65b0\u95fb\u3001\u89c1\u89e3\u548c\u8d8b\u52bf\u5206\u6790\u3002\u6211\u4eec\u7684\u5b97\u65e8\u662f\u4e3a\u5168\u7403\u7528\u6237\u63d0\u4f9b\u9ad8\u8d28\u91cf\u3001\u5168\u9762\u7684\u8d44\u8baf\u670d\u52a1\uff0c\u8ba9\u4ed6\u4eec\u66f4\u597d\u5730\u4e86\u89e3\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u884c\u4e1a\u7684\u6700\u65b0\u52a8\u6001\u3002\u6211\u4eec\u4e5f\u5e0c\u671b\u80fd\u5e2e\u5230\u66f4\u591a\u4f18\u79c0\u7684WEB3\u4ea7\u54c1\u627e\u5230\u66f4\u591a\u66f4\u597d\u7684\u8d44\u6e90\u597d\u8ba9\u8fd9\u9886\u57df\u53d8\u5f97\u66f4\u6210\u719f\u3002 \u6211\u4eec\u7684\u62a5\u9053\u8303\u56f4\u6db5\u76d6\u4e86\u533a\u5757\u94fe\u3001\u52a0\u5bc6\u8d27\u5e01\u3001\u667a\u80fd\u5408\u7ea6\u3001DeFi\u3001NFT \u548c Web3 \u751f\u6001\u7cfb\u7edf\u7b49\u9886\u57df\u3002\u6211\u4eec\u7684\u62a5\u9053\u4e0d\u4ec5\u6765\u81ea\u884c\u4e1a\u5185\u7684\u4e13\u5bb6\uff0c\u5148\u950b\u8005\u4e5f\u5305\u62ec\u4e86\u6211\u4eec\u81ea\u5df1\u7684\u5206\u6790\u548c\u89c2\u70b9\u3002\u6211\u4eec\u5728\u5404\u4e2a\u56fd\u5bb6\u548c\u5730\u533a\u90fd\u8bbe\u6709\u56e2\u961f\uff0c\u4e3a\u8bfb\u8005\u63d0\u4f9b\u672c\u5730\u5316\u7684\u62a5\u9053\u548c\u5206\u6790\u3002 \u9664\u4e86\u65b0\u95fb\u62a5\u9053\uff0c\u6211\u4eec\u8fd8\u63d0\u4f9b\u5e02\u573a\u7814\u7a76\u548c\u54a8\u8be2\u670d\u52a1\u3002\u6211\u4eec\u7684\u4e13\u4e1a\u56e2\u961f\u53ef\u4ee5\u4e3a\u60a8\u63d0\u4f9b\u6709\u5173\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u884c\u4e1a\u7684\u6df1\u5165\u5206\u6790\u548c\u5e02\u573a\u8d8b\u52bf\uff0c\u5e2e\u52a9\u60a8\u505a\u51fa\u66f4\u660e\u667a\u7684\u6295\u8d44\u51b3\u7b56\u3002 \u6211\u4eec\u7684\u4f7f\u547d\u662f\u6210\u4e3a\u5168\u7403\u534e\u6587\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u884c\u4e1a\u6700\u53d7\u4fe1\u8d56\u7684\u4fe1\u606f\u6765\u6e90\u4e4b\u4e00\u3002\u6211\u4eec\u5c06\u7ee7\u7eed\u4e0d\u65ad\u52aa\u529b\uff0c\u4e3a\u8bfb\u8005\u63d0\u4f9b\u6700\u65b0\u3001\u6700\u5168\u9762\u3001\u6700\u53ef\u9760\u7684\u4fe1\u606f\u670d\u52a1\u3002\",\"sameAs\":[\"https:\/\/ktromedia.com\"],\"url\":\"https:\/\/ktromedia.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa - Ktromedia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/ktromedia.com\/?p=180225","og_locale":"en_US","og_type":"article","og_title":"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa - Ktromedia","og_description":"\u6b27\u6d32\u7684\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6b63\u8fdb\u5165\u591a\u5e74\u6765\u6700\u5177\u7834\u574f\u6027\u7684\u51e0\u5468\u4e4b\u4e00\u3002\u8ddd\u79bb\u6b27\u76df\u53ec\u5f00\u4ec5\u526916\u5929 \u7c73\u5361 \u5bbd\u9650\u671f\u6b63\u5f0f\u7ed3\u675f\uff0c\u591a\u8fbe\u56db\u5206\u4e4b\u4e09\u7684\u975e\u6d32\u5927\u9646\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u5c06\u5931\u53bb\u5408\u6cd5\u7ecf\u8425\u6743\u2014\u2014\u8fd9\u4e00\u76d1\u7ba1\u6e05\u7b97\u53ef\u80fd\u4f1a\u91cd\u5851\u5e02\u573a\uff0c\u5e76\u4f7f\u6570\u767e\u4e07\u96f6\u552e\u7528\u6237\u4e89\u76f8\u5bfb\u627e\u66ff\u4ee3\u54c1\u3002 2026 \u5e74 7 \u6708 1 \u65e5\u662f\u6b27\u76df\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a\u76d1\u7ba1\u89c4\u5b9a\u7684\u7edd\u5bf9\u786c\u6027\u622a\u6b62\u65e5\u671f\u3002\u5728\u6b64\u65e5\u671f\u4e4b\u540e\uff0c\u4efb\u4f55\u5728\u6ca1\u6709\u6709\u6548 MiCA \u8bb8\u53ef\u8bc1\u7684\u60c5\u51b5\u4e0b\u5411\u6b27\u76df\u5ba2\u6237\u63d0\u4f9b\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u7684\u5b9e\u4f53\u90fd\u5c06\u8fdd\u53cd\u6b27\u76df\u6cd5\u5f8b\uff0c\u5fc5\u987b\u7acb\u5373\u505c\u6b62\u8fd0\u8425\u3002 ESMA \u5df2\u660e\u786e\u8868\u793a\uff1a\u4e0d\u4f1a\u6709\u8fdb\u4e00\u6b65\u7684\u5bbd\u9650\u671f\u6216\u5ef6\u671f\u3002 \u843d\u540e\u7684\u5e02\u573a \u8fd9\u4e9b\u6570\u5b57\u8bb2\u8ff0\u4e86\u4e00\u4e2a\u4e25\u5cfb\u7684\u6545\u4e8b\u3002 \u970d\u91d1\u8def\u4f1f (Hogan Lovells) \u7684\u6cd5\u5f8b\u5206\u6790 \u636e\u4f30\u8ba1\uff0c\u5728 MiCA \u4e4b\u524d\u6b27\u6d32\u5df2\u6709\u8d85\u8fc7 3,000 \u5bb6\u6ce8\u518c\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff0c\u4ec5\u6ce2\u5170\u5c31\u6709\u8d85\u8fc7 1,400 \u5bb6\u4f20\u7edf\u6ce8\u518c\u3002\u5230 2026 \u5e74 5 \u6708\uff0c\u6388\u6743\u7684\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\u6570\u91cf\u5df2\u964d\u81f3 194 \u5bb6\uff0c\u5176\u4e2d\u5305\u62ec\u4fe1\u8d37\u673a\u6784\u2014\u2014\u8be5\u516c\u53f8\u4f30\u8ba1\uff0c\u968f\u7740\u8fc7\u6e21\u671f\u5230\u671f\uff0c\u5927\u7ea6\u56db\u5206\u4e4b\u4e09\u7684\u524d MiCA VASP \u4eba\u53e3\u53ef\u80fd\u4f1a\u5931\u53bb\u6ce8\u518c\u8eab\u4efd\u3002 \u5982\u679c\u6309\u529f\u80fd\u7ec6\u5206\uff0c\u6388\u6743\u6570\u5b57\u751a\u81f3\u66f4\u8584\u3002\u6839\u636e ESMA \u548c 2026 \u5e74 6 \u6708\u7684\u884c\u4e1a\u6570\u636e\uff0c\u6574\u4e2a\u6b27\u76df\u5927\u7ea6\u6709 183 \u5bb6\u516c\u53f8\u62e5\u6709 MiCA \u5b8c\u5168\u6388\u6743\uff0c\u4f46\u83b7\u51c6\u8fd0\u884c\u5b9e\u9645\u4ea4\u6613\u5e73\u53f0\u7684\u516c\u53f8\u6570\u91cf\u53ea\u6709 14 \u5bb6\u3002\u5341\u4e2a\u6b27\u76df\u6210\u5458\u56fd\u5b8c\u5168\u53d1\u653e\u4e86\u96f6\u8bb8\u53ef\u8bc1\u3002 \u6ce2\u5170\u662f\u6700\u7d27\u8feb\u7684\u6848\u4f8b\uff0c\u5b83\u662f MiCA \u4e4b\u524d\u52a0\u5bc6\u8d27\u5e01\u8bb8\u53ef\u6700\u53d7\u6b22\u8fce\u7684\u6b27\u6d32\u53f8\u6cd5\u7ba1\u8f96\u533a\u4e4b\u4e00\uff0c\u4f46\u622a\u81f3 2026 \u5e74 3 \u6708\uff0c\u5f53\u5730","og_url":"http:\/\/ktromedia.com\/?p=180225","og_site_name":"Ktromedia","article_publisher":"https:\/\/www.facebook.com\/KTROMedia\/","article_published_time":"2026-06-15T21:00:04+00:00","og_image":[{"width":1280,"height":720,"url":"http:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg","type":"image\/jpeg"}],"author":"KTRO TEAM","twitter_card":"summary_large_image","twitter_misc":{"Written by":"KTRO TEAM"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/ktromedia.com\/?p=180225#article","isPartOf":{"@id":"http:\/\/ktromedia.com\/?p=180225"},"author":{"name":"KTRO TEAM","@id":"https:\/\/ktromedia.com\/#\/schema\/person\/612bf2fbac107722ea365932cdd35f5b"},"headline":"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa","datePublished":"2026-06-15T21:00:04+00:00","mainEntityOfPage":{"@id":"http:\/\/ktromedia.com\/?p=180225"},"wordCount":43,"commentCount":0,"publisher":{"@id":"https:\/\/ktromedia.com\/#organization"},"image":{"@id":"http:\/\/ktromedia.com\/?p=180225#primaryimage"},"thumbnailUrl":"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg","articleSection":["Nft"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["http:\/\/ktromedia.com\/?p=180225#respond"]}]},{"@type":"WebPage","@id":"http:\/\/ktromedia.com\/?p=180225","url":"http:\/\/ktromedia.com\/?p=180225","name":"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa - Ktromedia","isPartOf":{"@id":"https:\/\/ktromedia.com\/#website"},"primaryImageOfPage":{"@id":"http:\/\/ktromedia.com\/?p=180225#primaryimage"},"image":{"@id":"http:\/\/ktromedia.com\/?p=180225#primaryimage"},"thumbnailUrl":"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg","datePublished":"2026-06-15T21:00:04+00:00","breadcrumb":{"@id":"http:\/\/ktromedia.com\/?p=180225#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/ktromedia.com\/?p=180225"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/ktromedia.com\/?p=180225#primaryimage","url":"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg","contentUrl":"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/1781557203_MiCA-\u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32-75-\u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa.jpg","width":1280,"height":720},{"@type":"BreadcrumbList","@id":"http:\/\/ktromedia.com\/?p=180225#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ktromedia.com\/"},{"@type":"ListItem","position":2,"name":"MiCA \u5bbd\u9650\u671f\u5373\u5c06\u7ed3\u675f\uff0c\u6b27\u6d32 75% \u7684\u52a0\u5bc6\u8d27\u5e01\u516c\u53f8\u9762\u4e34\u9000\u51fa"}]},{"@type":"WebSite","@id":"https:\/\/ktromedia.com\/#website","url":"https:\/\/ktromedia.com\/","name":"Ktromedia","description":"KTRO MEDIA Crypto News","publisher":{"@id":"https:\/\/ktromedia.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ktromedia.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ktromedia.com\/#organization","name":"Ktromedia","url":"https:\/\/ktromedia.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktromedia.com\/#\/schema\/logo\/image\/","url":"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/11\/ktroicon.png","contentUrl":"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/11\/ktroicon.png","width":250,"height":250,"caption":"Ktromedia"},"image":{"@id":"https:\/\/ktromedia.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/KTROMedia\/","https:\/\/www.linkedin.com\/company\/ktro-media\/","https:\/\/t.me\/ktrogroup"]},{"@type":"Person","@id":"https:\/\/ktromedia.com\/#\/schema\/person\/612bf2fbac107722ea365932cdd35f5b","name":"KTRO TEAM","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktromedia.com\/#\/schema\/person\/image\/","url":"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/10\/cropped-Untitled-design-7-1-150x150.png","contentUrl":"https:\/\/ktromedia.com\/wp-content\/uploads\/2025\/10\/cropped-Untitled-design-7-1-150x150.png","caption":"KTRO TEAM"},"description":"KTRO MEDIA \u662f\u4e00\u5bb6\u5168\u7403\u6027\u7684\u534e\u6587WEB3\u5a92\u4f53\u516c\u53f8\u3002\u6211\u4eec\u81f4\u529b\u4e8e\u4e3a\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u9886\u57df\u63d0\u4f9b\u6700\u65b0\u7684\u65b0\u95fb\u3001\u89c1\u89e3\u548c\u8d8b\u52bf\u5206\u6790\u3002\u6211\u4eec\u7684\u5b97\u65e8\u662f\u4e3a\u5168\u7403\u7528\u6237\u63d0\u4f9b\u9ad8\u8d28\u91cf\u3001\u5168\u9762\u7684\u8d44\u8baf\u670d\u52a1\uff0c\u8ba9\u4ed6\u4eec\u66f4\u597d\u5730\u4e86\u89e3\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u884c\u4e1a\u7684\u6700\u65b0\u52a8\u6001\u3002\u6211\u4eec\u4e5f\u5e0c\u671b\u80fd\u5e2e\u5230\u66f4\u591a\u4f18\u79c0\u7684WEB3\u4ea7\u54c1\u627e\u5230\u66f4\u591a\u66f4\u597d\u7684\u8d44\u6e90\u597d\u8ba9\u8fd9\u9886\u57df\u53d8\u5f97\u66f4\u6210\u719f\u3002 \u6211\u4eec\u7684\u62a5\u9053\u8303\u56f4\u6db5\u76d6\u4e86\u533a\u5757\u94fe\u3001\u52a0\u5bc6\u8d27\u5e01\u3001\u667a\u80fd\u5408\u7ea6\u3001DeFi\u3001NFT \u548c Web3 \u751f\u6001\u7cfb\u7edf\u7b49\u9886\u57df\u3002\u6211\u4eec\u7684\u62a5\u9053\u4e0d\u4ec5\u6765\u81ea\u884c\u4e1a\u5185\u7684\u4e13\u5bb6\uff0c\u5148\u950b\u8005\u4e5f\u5305\u62ec\u4e86\u6211\u4eec\u81ea\u5df1\u7684\u5206\u6790\u548c\u89c2\u70b9\u3002\u6211\u4eec\u5728\u5404\u4e2a\u56fd\u5bb6\u548c\u5730\u533a\u90fd\u8bbe\u6709\u56e2\u961f\uff0c\u4e3a\u8bfb\u8005\u63d0\u4f9b\u672c\u5730\u5316\u7684\u62a5\u9053\u548c\u5206\u6790\u3002 \u9664\u4e86\u65b0\u95fb\u62a5\u9053\uff0c\u6211\u4eec\u8fd8\u63d0\u4f9b\u5e02\u573a\u7814\u7a76\u548c\u54a8\u8be2\u670d\u52a1\u3002\u6211\u4eec\u7684\u4e13\u4e1a\u56e2\u961f\u53ef\u4ee5\u4e3a\u60a8\u63d0\u4f9b\u6709\u5173\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u884c\u4e1a\u7684\u6df1\u5165\u5206\u6790\u548c\u5e02\u573a\u8d8b\u52bf\uff0c\u5e2e\u52a9\u60a8\u505a\u51fa\u66f4\u660e\u667a\u7684\u6295\u8d44\u51b3\u7b56\u3002 \u6211\u4eec\u7684\u4f7f\u547d\u662f\u6210\u4e3a\u5168\u7403\u534e\u6587\u533a\u5757\u94fe\u548c\u91d1\u878d\u79d1\u6280\u884c\u4e1a\u6700\u53d7\u4fe1\u8d56\u7684\u4fe1\u606f\u6765\u6e90\u4e4b\u4e00\u3002\u6211\u4eec\u5c06\u7ee7\u7eed\u4e0d\u65ad\u52aa\u529b\uff0c\u4e3a\u8bfb\u8005\u63d0\u4f9b\u6700\u65b0\u3001\u6700\u5168\u9762\u3001\u6700\u53ef\u9760\u7684\u4fe1\u606f\u670d\u52a1\u3002","sameAs":["https:\/\/ktromedia.com"],"url":"https:\/\/ktromedia.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/posts\/180225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ktromedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=180225"}],"version-history":[{"count":1,"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/posts\/180225\/revisions"}],"predecessor-version":[{"id":180227,"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/posts\/180225\/revisions\/180227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktromedia.com\/index.php?rest_route=\/wp\/v2\/media\/180226"}],"wp:attachment":[{"href":"https:\/\/ktromedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=180225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktromedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=180225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktromedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=180225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}