On 16 January 2025, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) issued a joint report on recent developments in crypto-assets, analysing decentralised finance (DeFi) and crypto lending, borrowing and staking.
As regards DeFi the joint report finds, among other things, that:
On 8 January 2025, the European Banking Authority (EBA) published a consultation paper on draft Regulatory Technical Standards (RTS) specifying the technical elements necessary for institutions to calculate and aggregate crypto-asset exposures in relation to the prudential treatment of such exposures.
Background
Regulation (EU) 2024/1623 amending Regulation (EU) No 575/2013 (
On 19 December 2024, the European Securities and Markets Authority (ESMA) issued a statement regarding the transitional regime for crypto asset service providers (CASPs) under Article 143(3) of the Regulation in markets in crypto assets (MiCAR).
Article 143(3) of the MiCAR states that “Crypto-asset service providers that provided their
On 18 December 2024, the European Commission adopted a Delegated Regulation supplementing the Regulation on markets in crypto assets with regard to regulatory technical standards specifying the detailed content of information necessary to carry out the assessment of a proposed acquisition of a qualifying holding in a crypto-asset service provider.
The Delegated Regulation enters into
On 13 December 2024, the European Commission adopted a draft Delegated Regulation supplementing the Regulation on markets in crypto-assets (MiCAR) with regard to regulatory technical standards (RTS) specifying adjustment of own funds requirement and minimum features of stress testing programmes of issuers of asset-referenced tokens (ARTs) or of e-money
On 12 December 2024, the European Banking Authority (EBA) issued a report on tokenised deposits.
In the report the EBA outlines preliminary observations as to potential benefits and challenges of the use of tokenised deposits, which may vary depending on design parameters.
In the light of the assessment of tokenised deposits set
On 10 December 2024, the European Supervisory Authorities (ESAs) issued a final report containing guidelines on templates for explanations and opinions, and the standardised test for the classification of crypto-assets, under Article 97(1) of the Regulation in markets in crypto-assets (MiCAR).
The guidelines have been developed in accordance with Article 97(1)
On 4 December 2024, the European Banking Authority (EBA) issued a consultation paper containing draft Regulatory Technical Standards (RTS) specifying the criteria according to which crypto-asset service providers (CASPs) should appoint a central contact point to ensure compliance with local anti-money laundering and countering the financing of terrorism (
On 4 December 2024, there were published the official translations of the joint European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) guidelines on the assessment of the suitability of the members of the management body of issuers of asset-referenced tokens and of crypto-asset service providers.
Next steps
The
On 3 December 2024, there was published in the Official Journal of the EU, Commission Implementing Regulation (EU) 2024/2984 of 29 November 2024 laying down implementing technical standards for the application of the Regulation on markets in crypto-assets with regard to forms, formats and templates for the crypto-asset white papers. The Implementing Regulation enters into