ESMA published proposed changes to the Markets in Crypto-Assets Regulation (MiCA) on 10 December 2024. The document aims to enhance clarity and safety in the regulation of crypto-assets, ensuring it is prepared for emerging services in the sector.
The proposed changes are based on Article 97(1) of the Regulation on Markets in Crypto-assets (Regulation (EU) 2023/1114). This article mandates the ESAs to issue joint Guidelines to specify the content and form of explanations accompanying crypto-asset white papers and legal opinions on asset-referenced tokens.
The proposed changes apply to crypto-asset service providers (CASPs) and token issuers. These entities must monitor the progress of the proposed changes and assess their potential impact on operations and compliance strategies.
The deadline for implementing these changes is set for 30 September 2026. Firms should stay informed about the evolving regulatory requirements as they develop.