On 31 May 2024, ESMA published its final report on draft technical standards specifying certain requirements in relation to conflicts of interest for CASPs under MiCA. The document contains draft Regulatory Technical Standards (RTS) whose aim is to clarify elements in relation to vertical integration of CASPs and to further align with the draft European Banking Authority (EBA) rules applicable to issuers of asset-referenced tokens (IARTs). The RTS also contain updates on requirements for the policies and procedures for the identification, prevention, management, and disclosure of conflicts of interest, considering the scale, nature and range of the provided crypto-asset services. They also contain details, as well as a methodology, for the content of the conflict-of-interest disclosures. In terms of next steps, the technical standards were submitted to the European Commission, which is to decide within 3 months whether to adopt them.
