
On 30 May 2024, the European Commission Delegated Regulation 2024/1506/EU supplementing MiCAR was published in the Official Journal of the European Union. It specifies the criteria to classify asset-referenced tokens (ARTs) and e-money tokens (EMTs) as significant. The EBA must assess whether the activities of the issuer of the ART or EMT are significant on the international scale, and whether ARTs or EMTs or their issuers are to be considered to be interconnected with the financial system. The outcome of the significance assessment should be subject to a holistic assessment of core and ancillary indicators provided by the Delegated Regulation. The Delegated Regulation also specifies how they are to be calculated. The Delegated Regulation also contains core indicators and ancillary indicators for the assessment of interconnectedness with the financial system and indicates how they are to be calculated. The Delegated Regulation was adopted on 22 February 2024 and will enter into force on 19 June 2024.