The first Consultation Package under the Markets in Crypto-Assets Regulation (MICA) was released on July 20 by ESMA and seeks feedback on proposed rules for crypto-asset service providers (CASPs).
Comments should be provided on the following aspects:
Notification by certain financial entities to provide crypto-asset services
Information to be provided with an application for authorisation as a crypto-asset service provider (e.g. identity of the applicant CASP, programme of operations, setting out the types of crypto-asset services that the applicant CASP intends to provide, description of the applicant CASP’s governance arrangements and internal control mechanisms, description of the procedure for the segregation of clients’ crypto-assets and funds, description of the applicant CASP’s complaints-handling procedures;...)
Proposals on standard forms, templates and procedures for the information to be included in the application for authorisation as a crypto-asset service provider
Proposals to specify the requirements, templates and procedures for the handling of client complaints by crypto-asset service providers
Possibility for clients of CASPs to file their complaints by post, in addition to electronic means
Identification, prevention, management and disclosure of conflicts of interest by CASPs
Acquisition of a qualifying holding in a CASP
Interested stakeholders must respond by 20 September 2023.