On Mar. 25, ESMA issued 3rd consultation on MiCA rules, guidelines.
ESMA issued its 3rd consultation package under Markets in Crypto-Assets Regulation (MiCA Reg 2023/1114) seeking input on 4 sets of proposed rules and guidelines.
ESMA is empowered to develop technical standards, guidelines on provisions of MiCA.
Issued first consultation package Jul. 2023, second Dec. 2023, more in Jan. 2024.
This 3rd consultation package contains all remaining mandates with an 18-month deadline, aims to collect stakeholder views on appropriate implementation of MiCA.
Subject Matter
Proposed technical standards and guidelines covering: the detection and reporting of suspected market abuse in crypto-assets (regulatory technical standards (RTS)).
Policies and procedures, including the rights of clients for crypto-asset transfer services (guidelines); ICT operational resilience for certain entities under MiCA (guidelines).
As well as suitability requirements for certain crypto-asset services and the format of the periodic statement for portfolio management (guidelines).
Effectiveness
Stakeholders should provide feedback using the response form by Jun. 25, 2024.
ESMA will publish a final report based on feedback received, and will submit the draft technical standards to EU CMSN for endorsement by Dec. 30, 2024 at the latest.
