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European Commission Press release Brussels, 15 Jul 2024 Today, the Commission has endorsed a positive preliminary assessment of the Netherlands' first payment request for €1.3 billion under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU.
ESAs consult on Guidelines under the Markets in Crypto-Assets Regulation
12 July 2024
Digital Finance and Innovation
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published a consultation paper on Guidelines under Markets in Crypto-assets Regulation (MiCA), establishing templates for explanations and legal opinions regarding the classification of crypto-assets along with a standardised test to foster a common approach to classification.
To support market participants and supervisors in adopting a convergent approach to the classification of crypto-assets, the Guidelines propose a standardised test, as well as templates for explanations and legal opinions that provide descriptions of the regulatory classification of crypto-assets in the following cases:
Asset-referenced tokens (ARTs): The white paper for the issuance of ARTs, which contains comprehensive information about the crypto asset, must be accompanied by a legal opinion that explains the classification of the crypto asset – in particular, the fact it is not an EMT nor a crypto-asset that could be considered excluded from the scope of MiCA
Crypto-assets that are not ARTs or EMTs under MiCA: The white paper for the crypto-asset must be accompanied by an explanation of the classification of the crypto asset – in particular, the fact it is not an EMT, ART or crypto-asset excluded from the scope of MiCA.
Next Steps
Comments to the consultation paper can be sent by clicking on the "send your comments" button on the consultation page. The deadline for the submission of comments is 12 October 2024.
The ESAs will hold a virtual public hearing on the consultation paper on Monday, 23 September 2024 from 10:00 to 12:00 CEST and invite interested stakeholders to register using this link by 19 September 2024 at 16:00 CEST. The dial-in details will be communicated in due course to those who have registered for the meeting.
All contributions received will be published following the end of the consultation, unless requested otherwise.
Background
MiCA establishes regimes for regulating the issuance, offering to the public, and admission to trading of electronic money tokens (EMTs), asset-referenced tokens (ARTs), and other crypto-assets. The Regulation also establishes a framework for crypto-asset service provision and a joint mandate for the ESAs to develop the guidelines for application. These draft Guidelines are the only joint-ESA policy mandate under MiCA.
Further information:
Cristina Bonillo
Senior Communications Officerpress@esma.europa.eu
12/07/2024
ESA 2024 12
Consultation Paper on the Guidelines on templates for explanations and opinions, and the standardised test for the classification of crypto-assets
Consultation on the Guidelines under MiCA establishing templates for explanations and legal opinions regarding the classification of crypto-assets
Hearing on the Guidelines under MiCA establishing templates for explanations and legal opinions regarding the classification of crypto-assets
Main agenda items, approximate timing, public sessions and press opportunities.
Main agenda items, approximate timing, public sessions and press opportunities.
Main agenda items, approximate timing, public sessions and press opportunities.
European Commission Speech Brussels, 12 Jul 2024 Ladies and gentlemen,
Thank you for being here today at this event to help Ukraine.
The Commission is deeply concerned about the damage inflicted by Russia on U...
Eurojust and the United States Department of Justice brought together senior European and US officials, prosecutors and law enforcement members for the purpose of stepping up efforts to combat the unlawful transfer of sensitive technology to foreign adversaries. The meeting on 12 July emphasised the urgent need to stop the illicit export of goods to Russia in light of its ongoing war of aggression against Ukraine.
The Luxembourg-EIB Climate Finance Platform (LCFP) will provide EUR 5 million for impact investor BlueOrchard's innovative USD 100 million climate insurance fund, with the backing of the government of Luxembourg.
New Q&As available
12 July 2024
Digital Finance and Innovation
Fund Management
Trading
The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has updated the following Questions and Answers:
Alternative Investment Fund Managers Directive (AIFMD)
Initial capital and additional own funds (2227)
Notification upon establishment of a branch (711)
Markets in Crypto-Assets Regulation (MiCA)
Treatment of staking services in MiCA (2067)
Grandfathering clause and applicable AML laws (2068)
Interaction between Article 60 notifications and the CASP transitional phase (2069)
Simplified authorisation procedures (2070)
Crypto-asset transfers as component of another crypto-asset service or as a separate crypto-asset transfer service (2071)
Entities not authorised as CASPs by the end of the transition period (2220)
Entities who have not applied for, or whose application for authorisation as CASPs has been refused by the end of the transition period (2221)
Markets in Financial Instruments Directive II (MiFID II)
Interpretation of "emission allowances" under C(4) (847)
Undertakings for Collective Investment in Transferable Securities Directive (UCITS)
Derogation for newly authorized UCITS (601)
▸ Questions and Answers section