On January 29 the European Securities and Markets Authority (ESMA) launched two consultations relating to the EU’s MiCA crypto-asset regulations. One relates to providers from third countries promoting crypto in the EU. The other covers when a crypto-asset falls under the new MiCA regulations rather than the MiFID II securities laws.
ESMA’s Securities and Markets Stakeholder Group (SMSG) provided feedback today, largely agreeing with ESMA on many points.
If a crypto asset service provider (CASP) is involved with financial instruments, it must also be regulated under MiFID II. The concept of a financial instrument is generally technology agnostic and includes transferable securities, money market instruments, funds, derivatives and emission allowances.
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