tBTC
activetBTC
wrapped
Launched
2023-09-01
tBTC is a decentralized wrapped Bitcoin protocol using threshold signatures. No single entity controls the underlying BTC.
Contract Addresses
Wrapping Mechanism
Type
threshold signature
Decentralization
Level 4/5
Description
Decentralized custody using threshold cryptography across multiple independent nodes
Technical Summary
The Threshold Network uses a decentralized group of node operators who jointly control a Bitcoin wallet via threshold signatures. No single node can unilaterally move funds.
Trust Assumptions
- Threshold cryptography security
- Majority of nodes must be honest
- Smart contract security on destination chains
MiCA Classification
UnresolvedtBTC's decentralized architecture via Threshold Network likely places it outside MiCA scope under Recital 22 ('where crypto-asset services are provided in a fully decentralised manner without any intermediary, they should not fall within the scope of this Regulation'). No single legal entity acts as issuer or custodian. 51-of-100 threshold signature scheme distributes custody across independent node operators. DAO governance via T token holders. Single-asset reference (BTC only) and absence of legal entity issuer further support exclusion from ART definition under Article 2.
ART Criteria Analysis
Proof of Reserves
Methodology
on chain verifiable
Frequency
real_time
Limitations
- On-chain verification requires technical expertise
- Protocol complexity may deter some users
Custodian
Threshold Network
decentralised protocol
Quick Links
Disclaimer
Regulatory status information is for educational purposes only. Always verify current regulations with official sources before making decisions. Not financial or legal advice.