On 25 March 2024, ESMA published its First Final Report under MiCAR. The report aims to foster clarity and predictability, promote fair competition between crypto-asset service providers (CASPs) and a safer environment for investors across the EU. It includes proposals on, among others, the information required for the authorisation of CASPs, the information required where financial entities (FEs) notify their intent to provide crypto-asset services, the information required for the assessment of intended acquisition of a qualifying holding in a crypto-asset service provider (CASP), and how CASPs should address complaints. ESMA submitted the Final Report to the European Commission (EC) and will provide further advice and technical guidance in this area if requested by the EC. The EC must decide whether to adopt the technical standards within 3 months.
