Today ESMA published some of the final rules relating to the MiCA crypto asset regulations. These include the information required for licensing crypto-asset service providers (CASPs) and how regulated institutions provide notification that they plan to offer CASP services. As noted below, this could open the floodgates for institutions to engage with crypto.
The finalized rules also cover acquisitions of stakes in a CASP and customer complaint handling. Separately, ESMA published a consultation on a third package of rules covering topics such as detecting market abuse and client rights. Feedback is requested by June 25.
We reported that German regulator BaFin raised concerns about overly detailed regulations. MiCA alone requires 57 separate sets of guidelines or rules.
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