CySEC seeks market input on MiCA fees and reporting requirements
09 Jul 2024
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On 26 June 2024, the Cyprus Securities and Exchange Commission (CySEC) released a Consultation Paper (CP-01-2024) to gather feedback on the proposed fees for actions taken by entities in relation to Regulation 1114/2023 on markets in crypto-assets (MiCA Regulation).
The Consultation Paper covers licensing / application fees, notification fees on various matters as well as annual fees.
The MiCA Regulation broadly categorises crypto-assets which fall within its scope of application into:
- Asset-Referenced Tokens (ARTs) regulated under Title III.
- Electronic Money Tokens (EMTs) regulated under Title IV.
- Other crypto-assets regulated under Title II.
Importantly, the Consultation Paper specifies that new categories of supervised entities introduced by MiCAR, which are expected to be overseen by CySEC, include:
- Offerors of crypto-assets other than ARTs and EMTs.
- Issuers of ARTs (excluding credit institutions).
- Crypto-Asset Service Providers (CASPs).
Stakeholders are encouraged to submit their feedback by 17 July 2024, via email to policy@cysec.gov.cy.
CySEC’s press release can be found here and the Consultation Paper can be accessed here
If you are unsure whether MiCA Regulation may apply to you, you can use our MiCA Assessment Tool to obtain a free preliminary assessment here.
