Legal NLP Meets MiCAR: Advancing the Analysis of Crypto White Papers
This work tackles the problem of regulatory compliance for crypto assets under MiCAR, but it is incremental as it primarily surveys and analyzes rather than proposing new methods.
The paper addresses the need for analyzing crypto white papers under the new MiCAR regulation by surveying existing NLP applications and identifying research gaps, with findings aimed at guiding future interdisciplinary work to assist regulators, issuers, and investors.
In the rapidly evolving field of crypto assets, white papers are essential documents for investor guidance, and are now subject to unprecedented content requirements under the European Union's Markets in Crypto-Assets Regulation (MiCAR). Natural Language Processing (NLP) can serve as a powerful tool for both analyzing these documents and assisting in regulatory compliance. This paper delivers two contributions to the topic. First, we survey existing applications of textual analysis to unregulated crypto asset white papers, uncovering a research gap that could be bridged with interdisciplinary collaboration. We then conduct an analysis of the changes introduced by MiCAR, highlighting the opportunities and challenges of integrating NLP within the new regulatory framework. The findings set the stage for further research, with the potential to benefit regulators, crypto asset issuers, and investors.