EBA publishes final set draft technical standards for asset-referenced tokens under MiCAR
28 May 2024
|
On 7 May 2024, the European Banking Authority (EBA) released three sets of final draft regulatory technical standards and one set of final draft implementing technical standards relating to asset-referenced tokens (ARTs) under the Markets in Crypto-assets Regulation (MiCAR).
The draft technical standards cover the following areas:
- Information that must be submitted with an application for authorisation to offer to the public or to seek admission to trading of an ART by an issuer (which is not a credit institution) under MiCAR
- The procedure for applying, including a template application form, for an authorisation to offer to the public or to seek admission to trading of an ART by an issuer (which is not a credit institution) under MiCAR
- Information that must be submitted for the assessment of a proposed acquisition of direct or indirect qualifying holdings in issuers of ARTs (which are not credit institutions) under MiCAR
- The procedure for the approval of white papers of ARTs issued by credit institutions, indicating the timeframe which should be followed during such a procedure
The technical standards aim to clarify the provisions of Title III of MiCAR on ARTs in anticipation of its coming into effect on 30 June 2024. The technical standards have been submitted to the European Commission for endorsement before publication in the Official Journal of the European Union.
EBA’s press release can be found here.
If you are unsure whether MiCA may apply to you, you can use our MiCA Assessment Tool to obtain a free preliminary assessment here.
