EU ESMA issued statement on the provision of certain crypto-asset services in relation to non-MiCA compliant asset-referenced tokens (ARTs) and e-money tokens (EMTs).
On same day, EBA, ESMA issued MiCA FAQ on scope of public offering, see #240819.
Follows EBA Jul. 2024 issued statements/priorities on MiCA application, see #218551.
Statement
Provides guidance on how and under which timeline crypto-asset service providers (CASPs) are expected to comply with the requirements of titles III and IV of MiCA.
ESMA aims to facilitate coordinated action at national level, avoid potential disruptions.
Q&A
EU CMSN also delivered a Q&A, providing guidance on the obligations contained in titles III and IV of MiCA and how these obligations should apply to CASPs.
Q&A clarifies that certain crypto-asset services may constitute an offer to the public or admission to trading in EU and should therefore comply with titles III and IV of MiCA.
ESMA welcomes this guidance, which provides clarity around titles III/IV application.
It is important that national competent authorities guide CASPs through this process.
Ensuring actions are taken consistently throughout EU, carried out in orderly fashion.
Effectiveness
National competent authorities are expected to ensure compliance by CASPs re non-compliant ARTs or EMTs as soon as possible, and no later than the end of Q1/2025.
