ESMA issues Second Consultation Package under MiCA
The European Securities and Markets Authority (ESMA) has just published its Second Consultation Package under the Markets in Crypto-Assets Regulation (MiCA).
Crypto-asset issuers, crypto-asset service providers (CASPs), financial entities dealing with crypto-assets and any other interested stakeholders have been asked to provide feedback in respect of the second consultation package by 14 December 2023.
MiCA requires ESMA to develop various regulatory technical standards (RTS), implementing technical standards (ITS) and guidelines in co-operation with ESMA. This Second Consultation Package includes six draft RTS and two draft ITS on the following matters:
- the content, methodologies and presentation of sustainability indicators on adverse impacts on the climate and the environment (RTS);
- the measures that CASPs must take to ensure continuity and regularity in the performance of services (RTS);
- the pre- and post-trade transparency data to be made public (RTS);
- the content and format of order book records (RTS);
- record-keeping by crypto-asset service providers (RTS);
- the data necessary for the classification of white papers (RTS);
- the standard forms and templates for the crypto-asset white paper (ITS);
- the technical means for appropriate public disclosure of inside information (ITS).
- ESMA should issue the third and final consultation package under MiCA in Q1 2024.
You may access our previous publications on MiCA at the links below:
- The Classification of Crypto-Assets under the new Markets in Crypto-Assets Regulation
- The Regime for Crypto-Asset Service Providers under the Markets in Crypto-Assets Regulation
- MiCA – Landmark crypto regulation approved by EU Parliament
- MiCA obtains Green Light from European Council
- ESMA and EBA issue Inaugural Consultation Packages under MICA
Author: Mark Caruana Scicluna (Senior Associate, Ganado Advocates)