Analyst: Cryptocurrency Entities May Misunderstand Sustainability Disclosure Deadline Under MiCA
The European Union's crypto-asset regulation, known as the Markets in Crypto Assets Regulation (MiCA), reportedly becomes law in 2023.MiCA establishes licensing requirements for cryptocurrency issuers and service providers, and the stablecoin rules came into effect in June.
However, issuers of asset reference tokens (ARTs) and e-money tokens (EMTs) will have to make sustainability disclosures from June 30, 2024, and crypto-asset service providers will have to start developing disclosure requirements by the end of the year, explained Rowan Varrall, deputy director of the DTI Foundation.
Despite clarification from the European Securities and Markets Authority (ESMA), the EU's securities regulator, several crypto asset service providers (CASPS) in the EU may not be aware of the correct deadline for sustainability disclosures.
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