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New European Union laws known as the Markets in Crypto Assets regulation, MiCA, due to take effect in December 2024, require prospective crypto license holders to show owners and executives have a good reputation. MiCA authorizations – which will allow crypto companies to operate across the 27-nation bloc – can
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The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on Oct. 20 jointly released a consultation paper featuring two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying stakes in issuers of asset-referenced tokens (ARTs) and
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Though the anticipation for MiCA has gone into full throttle, ESMA has warned national regulators against allowing what it calls ‘letterbox’ entities. The European Securities and Markets Authority (ESMA) is wary of global crypto firms who might try to exploit loopholes currently present in its Markets in Crypto Assets regulation (MiCA). MiCA,
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“Opaque group structures may also render it difficult for clients of service providers to know which entity they are dealing with and its regulatory status,” ESMA said in a statement today, adding that some existing crypto companies “may lack a strong compliance culture … and their large scale and geographic
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Consultations cover authorization and conflict of interest rules for crypto companies under the landmark digital assets law Original Source
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The European Securities and Markets Authority will set out proposals next month for how the EU’s new Markets in Crypto Assets (MiCA) rules should work in practice, including the forms and notifications that crypto companies and established funds have to follow in order to offer services within the bloc. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The European Securities and Markets Authority (ESMA) has recently urged cryptocurrency companies to explicitly label cryptocurrencies as unregulated when offered to investors, amid concerns about potential investor protection and financial risks. The European Securities and Markets Authority
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The EU’s Markets in Crypto Assets regulation (MiCA) is set to bring MiFID-style rules to the sector, but the regime will only take effect in around 18 months. In the meantime, ESMA, a Paris-based agency that groups and coordinates national regulators, is worried some companies are encouraging and exploiting the
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“Imagining a scenario in which a large retailer would enable crypto-assets as a payment option, or a leading tech company would introduce crypto-asset based peer-to-peer payments, consumer exposure could soar in a short period of time, strengthening the link” between the crypto and conventional financial realms, the document said. Source
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The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities. ESMA Launches Public Procurement for Providers of Crypto Trading
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