On 24 March 2025, Commission Delegated Regulation (EU) 2025/415 of 13 December 2024 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards specifying adjustment of own funds requirement and minimum features of stress testing programmes of issuers of asset-referenced tokens or of e-money tokens was published.
Regulatory technical standards have been issued on the basis of the delegation contained in Article 35(6) of the MiCA Regulation[1]. Their purpose is to determine the alignment with the own funds requirement and the minimum features of stress testing programmes. They are addressed to the following categories of issuers of crypto-assets:
- issuers of asset-referenced tokens;
- electronic money institutions issuing significant e-money tokens;
- electronic money institutions issuing e-money tokens that are not significant, where required by the competent authority pursuant to Article 58(2) of the MiCA Regulation.
The content of the above-mentioned legal act can be consulted at the following link:
https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202500415
[1] Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on Markets in crypto-assets and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150 9.6.2023, p. 40).