PANews reported on June 26 that according to CoinDesk, although the European Securities and Markets Authority (ESMA) has clarified the ESG (environmental, social and governance) data disclosure requirements for crypto asset service providers (CASPS), according to Tim Zölitz, chief risk officer of Crypto Risk Metrics, more than 80% of CASPS may still not be aware that they need to report ESG data from January 1, 2025. On Wednesday, Crypto Risk Metrics signed a memorandum of understanding (MoU) with the EU Crypto Asset Identifier Transparency Reporting Agency DTI Foundation to collaborate on the display of ESG data.
The Markets in Crypto-Assets Regulation (MiCA), the EU regulation for crypto-assets, will come into force in 2023 and establish licensing requirements for cryptocurrency issuers and service providers. MiCA requires issuers of asset reference tokens (ARTs) and electronic money tokens (EMTs) to disclose sustainability information by June 30, 2024, while CASPS must begin developing disclosure requirements by the end of this year. However, there is still confusion about the correct deadline for ESG data disclosure. Some interpretations suggest that information is only required when the white paper is published (expected to be at the end of 2027). Zölitz pointed out that this stems from the wording of the MiCA regulatory text, which was later clarified in Consultation Paper No. 2. MiCA stipulates that trading platform operators must write, notify and publish white papers by December 31, 2027. ESMA further pointed out that crypto entities must publish all relevant crypto-asset information in a prominent position on their website, regardless of whether it is available from the white paper. Zölitz emphasized that CASPS must display ESG data regardless of whether the white paper is published.
