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2023 09 29 EBA response to EC on MiCAR CfA.pdf

The European Commission requested the European Banking Authority (EBA) for technical advice by September 30, 2023, on two delegated acts under Regulation (EU) 2023/114 on markets in crypto-assets (MiCAR). The advice focuses on two areas:

  1. Specific significance criteria: Sets out "core" and "ancillary" indicators for assessing asset-referenced tokens (ARTs) and electronic money tokens (EMTs) against relevance criteria, including international scale and interconnectedness with the financial system.
  2. Supervisory fees: Provides a response to all elements relating to the calculation and apportionment of supervisory fees charged by the EBA to issuers of significant ARTs and EMTs.

Additionally, the advice highlights gaps in reporting obligations for issuers of ARTs and EMTs under MiCAR, which would limit the EBA's ability to assess tokens against specified criteria.

Published: · Source: EBA

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