RTS in Crypto Assets Regulation (MiCA) – second package issued by ESMA

The European Securities and Markets Authority (ESMA) on July 3, 2024, published the second set of draft regulatory technical standards (RTS) for the MiCA Regulation [Regulation (EU) 2023/1114 of the European Parliament and of the Council of May 31, 2023, on crypto markets and amending Regulations (EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937].

For whom are RTSs relevant?

Regulatory technical standards (RTSs) related to MiCA are relevant to entities that are currently operating virtual currencies (known as VASPs) and those that intend to apply for a crypto-asset services license (known as CASP) in the future.

RTSs should be taken into account when drafting and implementing internal procedures.

What do RTSs cover?

Regulatory technical standards of the second package include:

• Sustainability indicators for climate and other adverse environmental effects.
• Business continuity measures for CASPs.
• Ways to specify how CASPs operating a crypto trading platform are to present data, ensuring that investors are adequately informed about the access, costs, scope, and operation of the trading platforms they use or intend to use.
• Standards specifying the records of services, activities, orders, and transactions related to cryptocurrencies that CASPs are required to maintain.
• White paper formats and data for their classification in the MiCA registry.
• Measures for proper public disclosure of confidential information.

The draft technical standards will be forwarded to the European Commission for adoption, which has three months to do so.

Access to draft RTSs

The RTS are available at the following link: ESMA Final Report MiCA CP2

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