Educational Demo Only — This POC illustrates how software can model MiCA (EU Reg. 2023/1114) requirements. It is not legal advice and does not constitute MiCA compliance certification.

ART Reserve Composition Validator

Demonstrates Art. 36–38 and Art. 45 compliance checks for the reserve of assets of a significant Asset-Referenced Token

Overall Status
Max concentration 20.0% > 10% limit.
Reserve Snapshot
Total Reserve:€1,000,000
Tokens Outstanding:1,000,000
Coverage Ratio:1.00x
Deposits in Credit Institutions
Actual:60.0%
Required (Art. 45(7)(b)):60%
Status:✓ Pass

Reserve Composition by Institution

Asset Category Breakdown

Concentration Limit (Art. 37(1)(d)–(e))

Maximum single institution: 20.0%

Required maximum: 10%

✗ Non-compliant

Eligible Assets Only (Art. 38(1))

✓ No crypto-assets in reserve

Reserve Assets Editor

InstitutionCategoryAmount (€)CountryAction

Token Supply Configuration

Coverage ratio: 1.000x

MiCA Compliance Note

Implemented: Art. 36(7) — Aggregate reserve value, at market prices, at least equal to the claims of holders of the tokens in circulation. Currency matching is a POC policy supporting Art. 36(1)(a)

Implemented: Art. 45(7)(b) — Significant ART: deposits in credit institutions ≥ 60% of the amount referenced in each currency (30% floor for non-significant ARTs, Art. 36(4)(d))

Implemented: Art. 37(1)(d)–(e) and Art. 38(1) — Concentration avoidance and highly liquid instruments only. The exact limits are set by EBA RTS; the 10% per-institution cap and the exclusion of crypto-assets are policy assumptions of this POC

Implemented: Art. 30(1) — Reserve composition disclosure structure (at least monthly)

Out of scope: Art. 35 — Own funds calculation

Out of scope: Art. 39 — Redemption enforcement (requires blockchain integration)

Out of scope: Art. 36(9) — Independent audit every six months (requires audit firm integration)

What this POC does not implement