Regulatory Alerts2024-01-01
Decision on the Procedure for the Classification of Asset-Referenced Tokens and E-Money Tokens as Significant under MiCAR
The European Banking Authority issued this decision to establish the rules of procedure for classifying asset-referenced tokens and e-money tokens as significant under MiCAR. It mandates that competent authorities submit specific data to the EBA twice annually and outlines the timelines for voluntary requests, stakeholder consultations, and the transfer of supervisory responsibilities. The document further defines reporting obligations for issuers and the mechanisms for establishing supervisory colleges following a significance determination.
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