ESMA published new Q&A content on crypto-asset lending services on October 17, 2023. The guidance clarifies the conditions under which Crypto-Asset Service Providers (CASPs) can offer these services, particularly regarding the use of clients' crypto-assets.
The guidance relies on the Markets in Crypto-Assets Regulation (MiCA), specifically Article 51. It outlines the regulatory requirements CASPs must follow when providing lending services.
The new Q&A applies to Crypto-Asset Service Providers (CASPs) that wish to expand their service offerings to include crypto-asset lending.
The material does not specify any deadlines or transitional periods for compliance with the new guidance.