Licenses / Trust
A regulated EMT issuer is not a crypto exchange.
The collapse of unlicensed offshore exchanges made investors right to be wary of anything labelled "crypto." Olbra is built for the opposite outcome. MiCA was written to make that difference enforceable in EU law, and this page shows exactly where the line runs.
The difference
Enforceable, line by line.
| Regulated EMT issuer (Olbra) | Unlicensed offshore exchange | |
|---|---|---|
| Legal category | E-money token issuer under MiCA: a defined category in EU law. | Often no recognised legal category at all. |
| Primary regulator | A named national supervisor, on a public register. | None, or a nominal offshore registration. |
| Reserves | 1:1, segregated at credit institutions, no rehypothecation. | Commingled. Discovered only after collapse. |
| Transparency | A published whitepaper per issuance. Named owners. | Opaque structures, undisclosed exposure. |
| Supervision | Own-funds rules, fit-and-proper tests, audit, inspection. | Nothing enforceable, nowhere to complain. |
What MiCA requires
The four pillars.
01
Licensing.
Authorised, and verifiable.
02
Reserves.
1:1, and segregated.
03
Transparency.
A whitepaper per issuance. Named owners.
04
Supervision.
Own-funds, fit-and-proper, audit, inspection.
Compliance
Enforceable answers, not assurances.
Reach the compliance team directly through the contact form.