Note: SatsEarn is operated in India. MiCA (Markets in Crypto-Assets Regulation) is an EU regulatory framework. This statement outlines our good-faith approach to MiCA principles for EU-based users of the Platform.
What is MiCA
MiCA is the European Union's regulatory framework for crypto-asset markets, effective from December 2024. It establishes rules for the issuance, trading, and provision of services related to crypto-assets within the EU.
SatsEarn's Position
SatsEarn is a rewards platform, not a crypto-asset issuer, exchange, or financial services provider. We do not:
- Issue, create, or mint any crypto-asset or token.
- Operate as a cryptocurrency exchange or trading platform.
- Offer investment products or financial returns.
- Provide custodial services for Bitcoin beyond the maturity period for earned rewards.
Sats earned on SatsEarn are Bitcoin (BTC) satoshis — a decentralised, public blockchain asset not issued by SatsEarn. We facilitate earning and withdrawal of sats through task completion. We do not control, issue, or back Bitcoin in any way.
Our Commitment to EU Users
While SatsEarn may not be directly subject to MiCA as a rewards platform, we commit to the following principles aligned with MiCA's objectives for EU users:
- Transparency: Clear disclosure of how rewards are earned, calculated, and distributed.
- Consumer Protection: Honest representation of earning potential. No guaranteed earnings claims.
- Risk Disclosure: Clear communication that Bitcoin is a volatile asset and earned sats may fluctuate in value.
- Data Protection: Full compliance with GDPR for EU user data.
- Anti-Fraud: Robust verification systems to protect platform integrity.
Regulatory Monitoring
As MiCA continues to be implemented and interpreted, SatsEarn will monitor regulatory developments that may apply to our operations and take appropriate steps to ensure compliance. If you have regulatory concerns about using SatsEarn as an EU resident, contact us at support@satsearn.app.