On 5 July 2024, the European Banking Authority (EBA) published a statement to remind persons who are issuing/offering to the public, or intend to issue/offer to the public, or to seek admission to trading ARTs and EMTs of the new requirements under MiCAR which entered into application on 30 June 2024. It also draws attention to the EBA’s technical standards and guidelines (GLs) available on its website. The EBA then draws attention to factors that consumers can check before deciding whether to acquire ARTs, EMTs or other types of crypto-assets, and reminds them of the risks of acquiring crypto-assets not issued in line with the applicable MiCAR provisions. The EBA also shared with the competent authorities (CAs) a set of supervisory priorities for ART/EMT issuers supervision for implementation in 2024/2025 in 4 areas, namely internal governance and risk management, financial resilience (including, where applicable, own funds requirements and reserve of assets), technology risk management and financial crime risk management.
