ESMA has published the second consultation package on crypto-asset markets

The second consultation paper concerns technical standards under the Regulation on Markets in Crypto-assets (MiCA). The package includes six proposals for regulatory technical standards (RTS) on the following issues:

  • the content, methodologies and presentation of sustainability indicators on adverse impacts on the climate and the environment
  • the measures that crypto-asset service providers (CASPs) must undertake to ensure the continuity and regularity of services
  • transparency of pre- and post-trade data to the public
  • the content and format of order book records
  • record keeping obligations for CASPs
  • data necessary for the classification of white papers.

The package also includes two proposals for implementing technical standards on:

  • disclosures of inside information – the proposal lays down technical measures for the public disclosure of inside information and delaying such disclosure
  • white paper – the proposal aims to ensure the standardisation in relation to information that must be included in white papers.

ESMA also published a Proof of Concept (PoC) illustrating concrete application of the requirements on the Inline XBRL format in relation to white papers on crypto-assets.

ESMA should issue the third (last) consultation package as part of the Regulation on MiCA during the first quarter of 2024.

ESMA has invited crypto-asset issuers, crypto-assets service providers, financial entities dealing with crypto-assets as well as other stakeholders to submit opinions on the second consultation package by 14 December 2023.

More details can be found here:

https://www.esma.europa.eu/press-news/esma-news/esma-publishes-second-consultation-crypto-market-rules

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