ESMA responds to proposed MiCA RTS amendments, emphasizing policy goals and legal limits.
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The European Securities and Markets Authority (ESMA) has addressed the European Commission’s proposed changes to the Markets in Crypto-Assets Regulation (MiCA) Regulatory Technical Standards (RTS). ESMA pointed out certain legal issues raised by the Commission and reiterated the policy objectives of the original proposal.
The response covers two key areas of the RTS. The first specifies that financial entities must include information in a notification of their intention to provide crypto-asset services. The second focuses on the concerned applications that crypto-asset service providers (CASPs) must submit to gain authorization. These standards aim to ensure thorough evaluations of crypto-asset service providers entering the European market to strengthen the market and also to protect investors.
ESMA’s Recommendations
ESMA recommended that the European Commission make further amend…
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