Crypto assets

On 26 March 2025, there was published the official translations of the European Securities and Markets Authority’s (ESMA) guidelines on certain aspects of the suitability requirements and format of the periodic statement for portfolio management activities under the Markets in Crypto Assets Regulation (MiCA). The guidelines are intended to promote greater…

On 24 March 2025, the European Banking Authority (EBA) announced that it had updated its methodology for the assessment of regulatory and supervisory frameworks of non-EU countries. The updates have been made to reflect changes to the Capital Requirements Regulation and Capital Requirements Directive. The EBA’s methodology is based on two questionnaires with…

On 24 March 2025, the following Commission Delegated Regulations supplementing the Regulation on markets in crypto-assets (MiCA) were published in the Official Journal of the EU (OJ):

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On 19 March 2025, there was published on the European Securities and Markets Authority’s (ESMA) website the official translations of the guidelines on the conditions and criteria for the qualification of crypto-assets as financial instruments. The guidelines specify the conditions and criteria for determining whether a crypto-asset should qualify as a financial instrument…

On 14 March 2025, there was published in the Official Journal of the EU (OJ):

  • Commission Delegated Regulation (EU) 2025/417 of 28 November 2024 supplementing the Regulation in markets in crypto assets (MiCA) with regard to regulatory technical standards (RTS) specifying the manner in which crypto-asset service providers (
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On 10 March 2025, the European Securities and Markets Authority published the official translations of the European Supervisory Authorities (ESA) guidelines on templates for explanations and opinions, and the standardised test for crypto-assets, under Article 97 (1) of the Regulation on markets in crypto assets (MiCA).

The guidelines apply from 12…

The Markets in Crypto-Assets Regulation (MiCAR) introduces a new regulatory framework for crypto-assets in the EU. Published in the OJ in June 2023, it became applicable to issuers of ARTs and EMTs on 30 June 2024 and to CASPs on 30 December 2024. In order to operate in the EU CASPs must be authorised and…

On 27 February 2025, the European Banking Authority (EBA) issued its opinion responding to the European Commission’s (Commission) proposed changes to its draft regulatory technical standards (RTS) on the information to be provided to Member State competent authorities when authorising the offer to the public of asset-referenced tokens (…

On 27 February 2025, the European Commission adopted the following delegated acts supplementing the Regulation in markets in crypto-assets (MiCA):

  • Commission Delegated Regulation (EU) supplementing MiCA with regard to regulatory technical standards (RTS) specifying records to be kept of all crypto-asset services, activities, orders and transactions undertaken. Article 68(9) of MiCA
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On 17 February 2025, the European Securities and Markets Authority (ESMA) issued a consultation paper containing draft guidelines for the criteria on the assessment of knowledge and competence under the Markets in Crypto Assets Regulation (MiCA).

Background

Article 81(15) of MiCA provides for ESMA to issue guidelines specifying the criteria for…