What changes does Delegated Regulation 2025/299 bring to the crypto-asset market?

On February 13, 2025, the European Commission published Delegated Regulation (EU) 2025/299 of October 31, 2024. This act supplements the Regulation (EU) 2023/1114 of the European Parliament and Council on crypto-asset markets (MiCA). It also defines regulatory technical standards (RTS) for the continuity and regularity of crypto-asset services.

The new regulations aim to enhance the stability and security of the crypto-asset market by harmonizing the requirements for the operational activities of entities providing services in this sector. The RTS were developed based on the delegation provided in Article 68(10) of MiCA, and their primary purpose is to clarify two key areas:

• Measures ensuring the continuity and regularity of services – in accordance with Article 68(7) of MiCA, crypto-asset service providers are required to implement appropriate procedures and mechanisms to ensure the stability of their operations, even in the event of operational or technological disruptions.
• Recording of services, activities, orders, and transactions – under Article 68(9) of MiCA, entities operating in the crypto-asset sector must maintain detailed documentation of all operations, aiming to increase market transparency and facilitate regulatory oversight.

What obligations do the new RTS impose on crypto-asset service providers?

The new regulations introduce a range of challenges but also opportunities for crypto-asset service providers.

The requirement for operational continuity necessitates the implementation of more advanced risk management systems and protective mechanisms against technological failures and market disruptions. At the same time, greater transparency in operations could enhance investor and regulatory confidence in the crypto-asset market, which may lead to its long-term stability and growth.

Regulatory context and next steps

The publication of the RTS is part of the broader regulatory process under MiCA, which aims to establish harmonized rules for the crypto-asset market in the European Union. The new standards should enhance investor protection, improve market stability, and counter potential risks related to irregular service provision by providers.

The full text of Delegated Regulation (EU) 2025/299 in English can be accessed via the following link: EUR-Lex.

In the coming months, further implementing acts can be expected to clarify other aspects of the operation of the crypto-asset market in the EU, in line with the overall framework set out by MiCA.

Therefore, we encourage you to subscribe to our newsletter so as not to miss the most important information about the upcoming regulations, their practical effects and the obligations of crypto service providers.