AEFI_respuesta_ESMA_MiCAR_AAA_14Dic23.pdf

Here are the key points summarized:

ESMA's Approach

• ESMA's approach to ensuring coherence, complementarity, consistency, and proportionality is not agreed upon by AEFI.
• The obligation for CASPs to provide two tables in Annex to RTS is an excessive burden.

Crypto-asset White Paper

• AEFI believes that the white paper should be the main source of information, and persons drawing up the crypto-asset white paper are best qualified to draw up tables.
• Limiting CASPs to providing a link to required information would not negatively impact investors' awareness.

CASPs Obligations

• The requirement for all CASPs to provide the same level of obligations regarding information on adverse impacts on climate and environment is not reasonable.
• Different activities of CASPs (e.g. exchange vs custody) justify tailored obligations.

Estimates and Data Availability

• AEFI believes that estimates should only be used in cases where data is limited, for example when data is not available for the entirety of a calendar year.
• The feasibility and costs of accessing data required to compute sustainability metrics are uncertain.

Business Continuity

• AEFI supports the need for business continuity organizational arrangements and periodic testing of plans.
• A transitional period of one year without obligation to carry out testing, followed by a periodicity of once every two years, should be explored.