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Liquid Mercury

MiCAR White Paper

Liquid Mercury (MERC) MiCAR White Paper

Liquid Mercury published the MERC MiCAR White Paper on June 19, 2026. It explains the issuer, the MERC token, holder rights, key risks, and the information used for EU trading review.
Open white paper
EU rulebook
MiCAR
Regulation
EU 2023/1114
Publish date
June 19, 2026

MiCAR

The EU rules behind the white paper

MiCAR is Regulation (EU) 2023/1114, the EU rulebook for crypto-asset offers, trading admission, disclosures, service providers, and market integrity.

For crypto-assets that are not exempt, MiCAR requires a white paper before an offer to the public or admission to trading in the European Union.

The white paper is notified through the relevant National Competent Authority process.

ESMA makes white paper information available through its MiCAR register.

Marketing and other public materials must stay consistent with the white paper.

Trading review

How it supports admission to trading

Admission to trading is the process that lets a crypto-asset be traded on an EU crypto-asset trading platform. The MERC white paper gives venues and service providers the disclosure package they need for that review.

  1. 01

    Prepare

    Compile issuer, token, rights, risk, and technology disclosures.

  2. 02

    Notify

    Submit the white paper through the applicable National Competent Authority process.

  3. 03

    Publish

    Make the current white paper available to market participants, venues, and service providers.

Updates

Current version at the publication URL

If the white paper changes after publication, Liquid Mercury will keep the latest version at the white paper URL. Market participants should review that version before relying on older summaries, marketing materials, or copies.