On 25 March 2024, ESMA launched a consultation on proposed draft technical standards and guidelines specifying certain requirements of MiCAR on detection and prevention of market abuse, investor protection and operational resilience. This is ESMA’s third consultation package under MiCAR and includes all remaining mandates with an 18-month deadline. ESMA is consulting on the following 4 sets of proposed rules and guidelines: draft RTS on the detection and reporting of suspected market abuse in crypto-assets; draft Guidelines on policies and procedures, including the rights of clients, for crypto-asset transfer services; draft Guidelines on suitability requirements for certain crypto-asset services and format of the periodic statement for portfolio management; and draft Guidelines ICT operational resilience for certain entities under MiCAR. Stakeholders are invited to respond to the consultation by 25 June 2024. All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input – Consultations’ using the provided reply form (in Word), which can be found here. ESMA will publish a final report based on the feedback received and will submit the draft technical standards to the European Commission (EC) for endorsement by 30 December 2024 at the latest.
