The European Securities and Markets Authority (ESMA) has published a document calling on stakeholders to discuss several aspects of the Markets in Crypto-Assets (MiCA) regulation.
The ESMA has published a 307-page document encouraging the public to comment on several aspects of the legislation in relation to the EU crypto market.
The regulator is seeking stakeholder opinions on five aspects of MiCA:
- Sustainability indicators of DLT systems, including quantification of energy consumption, greenhouse gas emissions, and waste.
- Technical documentation requirements and the inclusion of a range of critical functions in DLT systems.
- Disclosure of trade transaction information, including identification of date, time, and cryptocurrency assets, as well as pricing, volume, transaction location, and transaction ID.
- Record keeping by crypto-asset service providers (CASP) of their trades in a predetermined format.
- Disclosure of CASP internal documentation.
The regulator will submit a report based on the feedback received to the European Commission by June 30, 2024.
This document isn’t the first. The ESMA representatives previously conducted a public consultation on certain aspects of MiCA. The regulator also plans to hold another round of stakeholder consultations in Q1 2024.
The MiCA bill has been approved by the European Parliament and will partially enter into force already in the summer of 2024. In particular, it relates to the provisions on stablecoins, which provokes rumors about stopping the listing of stablecoins on the territory of the EU by major crypto exchanges.
