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European Insurance and Occupational Pensions Authority
  • Consultation
  • Closed

Consultation on draft Guidelines on templates for explanations and opinions, and the standardised test for the classification of crypto-assets

Details

Status
Closed
Opening date
Deadline

Target audience

To support market participants and supervisors in adopting a convergent approach to the classification of crypto-assets, the Guidelines propose a standardised test, as well as templates for explanations and legal opinions that provide descriptions of the regulatory classification of crypto-assets.

Respond to the consultation

The response period for this consultation has ended. Thank you for your input.

Reference documents

  • 12 JULY 2024
Consultation Paper regarding Draft Guidelines on templates for explanations and opinions, and the standardised test for the classification of crypto-assets, under Article 97(1) of Regulation (EU) 2023/1114
English
(710.13 KB - PDF)
Download
  • 23 SEPTEMBER 2024
Presentation during the Public hearing slides_Art_97(1)_GL_MiCAR.pdf
English
(332.31 KB - PDF)
Download

Additional information

The ESAs will hold a virtual public hearing on the consultation paper on Monday 23 September 2024 from 10:00 to 12:00 CEST and invite interested stakeholders to register using this link by 19 September 2024 at 16:00 CEST. The dial-in details will be communicated in due course to those who have registered for the meeting.

The draft Guidelines have been developed in accordance with Article 97(1) of the Regulation on Markets in Crypto-assets (MiCAR) (Regulation (EU) 2023/1114) which requires the ESAs, by 30 December 2024, to jointly issue Guidelines in accordance with Article 16 of the ESA Founding Regulations (Regulation (EU) No 1093/2010, Regulation 1094/2010, Regulation 1095/2010) to specify the content and form of the explanation accompanying the crypto-asset white paper referred to in Article 8(4), and the legal opinions on the qualification of asset-referenced tokens (ARTs) referred to in Article 17(1), point (b)(ii), and Article 18(2), point (e) of MiCAR. The Guidelines are required to include a template for the explanation and the opinion and a standardised test for the classification of crypto-assets. This is the only joint-ESA policy mandate under MiCAR.

MiCAR establishes regimes for regulating the issuance, offering to the public, and admission to trading of electronic money tokens (EMTs), asset-referenced tokens (ARTs), and other crypto-assets. The Regulation also establishes a framework for crypto-asset service provision.