ESMA Publishes Final Guidelines on MiCA

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The European Securities and Markets Authority (ESMA) has issued its final guidelines in anticipation of the implementation of the Markets in Crypto-Assets (MiCA) regulation. 

On the 17th, ESMA announced in an official press release the publication of a final package containing standards and guidelines for the full implementation of MiCA, which governs virtual assets.

ESMA highlighted its extensive regulatory work over the past 18 months, encompassing more than 30 technical standards and guidelines, many developed in conjunction with the European Banking Authority (EBA).

The published guidelines include regulatory standards to prevent market abuse in the virtual asset sector, guidelines for classifying virtual assets as financial products, and guidelines for Crypto Asset Service Providers (CASPs).

Verena Ross, Chair of ESMA, emphasized that the MiCA regulation, effective on the 30th, represents a significant advancement in establishing a regulatory framework for the virtual asset market, further stating ESMA’s commitment to ensuring smooth implementation, providing guidance, and collaborating with all National Competent Authorities (NCAs).