The European Securities and Markets Authority (ESMA) has published its final package of regulatory technical standards (RTS) and guidelines, finalizing the regulatory framework required for the Markets in Crypto-Assets Regulation (MiCA).
This represents a key step as MiCA’s full implementation date of December 30, 2024, nears. Over the past 18 months, ESMA, working with the European Banking Authority (EBA), has developed more than 30 sets of technical standards and guidelines to ensure MiCA’s smooth application throughout the European Union.
These documents address critical areas including market abuse prevention, investor protection, and operational resilience, further clarifying the responsibilities of crypto-asset service providers (CASPs).
In a Tuesday announcement, ESMA chair Verena Ross described the framework as “a significant step towards having a regulatory framework for the crypto market in place.” She also emphasized that while the guidelines mitigate uncertainty, they cannot eliminate the inherent risks associated with crypto-assets, advising investors to remain cautious.
