ESMA has finalized updates to its Q&A section on October 17, 2023, which includes clarifications on digital operational resilience testing and ESG disclosures. These updates require crypto-asset service providers (CASPs) to adjust their operational practices and compliance frameworks accordingly.
The updates reference multiple regulations, including MiCA and DORA, specifically addressing the application of the 48-hour rule for CASPs. The relevant provisions are found in Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA) and MiCA.
The updates apply to crypto-asset service providers and firms involved in the digital finance sector, as they must align their policies with the clarified requirements.
No specific deadlines or transitional periods are mentioned in the updates, but firms are encouraged to review the Q&A promptly to ensure compliance with the new clarifications.
The updates emphasize the importance of digital operational resilience and ESG disclosures, reflecting a growing regulatory focus in these areas for CASPs and related entities.