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The European financial authority has issued final guidelines to assist EU member states in preparing for the enforcement of the forthcoming Markets in Crypto-Assets (MiCA) regulation.
The European Securities and Markets Authority (ESMA) has released the most recent set of regulations, which encompasses technical standards and guidelines for European nations regarding the execution of the MiCA legislation.
The distributed documents address regulatory aspects such as:
- preventing market abuse in crypto-assets;
- facilitating crypto transfer services;
- ensuring the security of access protocols to trading platforms;
- recognizing digital assets as financial instruments and more.
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The formal implementation of the primary components of the MiCA legislation is scheduled for December 30, 2024.
It is noteworthy that several EU member states, including Belgium, Italy, Poland, Portugal, Luxembourg, and Romania, have reported challenges in meeting the MiCA implementation deadline due to uncertainty and insufficient regulatory clarity in specific areas. This concern was raised in a letter from the Electronic Money Association (EMA) to the ESMA, as reported by CoinDesk.
The package published by the European financial authority seeks to tackle regulatory obstacles and support the national-level implementation of MiCA. The ESMA’s press release also highlighted that collaboration with national regulators during the transitional phase will be essential to ensure the complete implementation of MiCA’s provisions.
Two months prior, ESMA analysts suggested several amendments to the MiCA legislation ahead of its official enforcement, including increasing requirements for license applicants and enhancing oversight of crypto-asset service providers (CASP).
Сообщение Final MiCA Technical Standards and Guidelines Released появились сначала на CoinsPaid Media.
