On 7 May 2024, the European Banking Authority (EBA) published one set of final draft implementing technical standards (ITS) related to the authorisation as issuer of asset-referenced tokens (ARTs) under the Markets in Crypto-assets Regulation (MiCAR).
The draft ITS lay down the standard application letter and the application template, and clarify the process related to the competent authority’s assessment of completeness of the application for authorisation to offer to the public or seek admission to trading of an ART. Since credit institutions are only required to receive approval to publish a white paper for ARTs issued by them, the ITS do not apply to credit institutions.
The draft ITS will be submitted to the European Commission for endorsement, following which they will be published in the Official Journal of the European Union.
