EU Publishes First Consultation Paper On MICA Standards For Crypto Asset Service Providers

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator, has published a consultation paper on the proposed technical standards for the Regulation on Markets in Crypto-Assets (MiCA) which was published in the EU’s Official Journal on 9 June 2023.

This is the first of three consultation papers that ESMA will publish on the MiCA technical standards. The first consultation paper seeks feedback on proposed technical standards for the authorisation of crypto asset service providers (CASPs); CASPs’ handling of complaints; and CASPs’ identification, prevention, management and disclosure of conflicts of interest. The paper also seeks views on the technical standard on the requirements for persons intending to acquire a qualifying holding in a VASP to notify the national competent authority (NCA) of that intention and provide it with specified information.

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