Analysts: Cryptocurrency entities may misunderstand the deadline for sustainability disclosures under MiCA

2024-06-26 19:58:21

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ChainCatcher news, according to CoinDesk, the European Union's cryptocurrency regulatory framework, the Markets in Crypto-Assets Regulation (MiCA), became law in 2023. MiCA establishes licensing requirements for cryptocurrency issuers and service providers, with stablecoin rules taking effect in June.

However, Rowan Varrall, Deputy Director of the DTI Foundation, explained that issuers of Asset-Referenced Tokens (ART) and Electronic Money Tokens (EMT) must begin sustainability disclosures from June 30, 2024, while crypto asset service providers must start developing disclosure requirements by the end of the year.

Despite clarifications from the European Securities and Markets Authority (ESMA), several crypto asset service providers (CASPS) in the EU may not be aware of the correct deadline for sustainability disclosures.

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