On the 27th of February 2025, the European Banking Authority issued an Opinion in response to the European Commission’s proposed amendments to its draft Regulatory Technical Standards (RTS) on the information to be provided to competent authorities when authorising the offer to the public of asset-referenced tokens (ARTs) or the admission to trade them under Regulation 2023/1114/EU (MiCAR). Whilst accepting the proposed changes, the EBA invited the European Commission to consider amending the Level 1 text to re-introduce the elements set out in the draft RTS submitted to the Commission due to their relevance from a supervisory perspective. These include the requirements of, namely, a market policy abuse, of an independent third-party audit about the issuer’s proprietary DLT operated by the issuer or by a third-party operator, and of a comprehensive notion of good repute aligned with the rest of the financial sector.
