crypto rules

On 12 July 2023, the EBA published its webpage on MiCA, which states that the EBA is responsible for developing 17 technical standards and guidelines to further specify the requirements for asset-referenced tokens (ARTs) and e-money tokens (EMTs). It is also mandated to produce 2 regulatory products jointly with the European Securities and Markets Authority (ESMA) and one jointly with ESMA and the European Insurance and Occupational Pensions Authority (EIOPA). The first set of consultation papers, focusing on ART authorisations, qualifying holdings, and complaints handling, were published on 12 July 2023. The second batch, which will cover mandates on the approval of ART white papers (for tokens issued by credit institutions) and the suitability of members of the management body of ART issuers and CASPs, is scheduled to be published in Q3 2023. The remaining EBA consultation papers (CPs) including prudential mandates will be made available before the end of 2023.