No, and yes. The IKARUS C42 is designed to the Microlight rules of the Federation Aeronautique Internationale.
The IKARUS C42B is the LSA version. The C42B meets the LSA rules of the American Society for Testing and Materials. Choose the Rotax 912UL 80 Hp or 912ULS 100 Hp available on either the C42 or C42B.
Wikipedia and the Comco sites have much more information.