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EU regulator consults on MiCA guidelines for crypto assets

Thursday 1st February, 2024

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published two Consultations Papers on guidelines under Markets in Crypto Assets Regulation (MiCA).

ESMA, the regulatory body overseeing financial markets in the EU has released two Consultation Papers regarding guidelines within the framework of the Markets in Crypto Assets Regulation. The first paper focuses on reverse solicitation, while the second addresses the classification of crypto-assets as financial instruments. 

In the first consultation paper on 'guidelines on reverse solicitation', ESMA is seeking input on proposed guidance relating to the conditions of application of the reverse solicitation exemption and the supervision practices that National Competent Authorities (NCAs) may take to prevent its circumvention.

In the second consultation paper 'on guidelines on conditions and criteria for the classification of crypto-assets as financial instruments', ESMA is seeking input on establishing clear conditions and criteria for the qualification of crypto-assets as financial instruments. 

The consultation closes on 29 April 2024.

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