Regulatory Alerts2024-06-26 | C648CySEC Notification of Crypto Asset Services Under Article 60 of MiCA
The Cyprus Securities and Exchange Commission (CySEC) has issued Circular C648 to regulated entities, including investment firms and asset managers, regarding the notification of crypto-asset services under Article 60 of the Market in Crypto Assets Regulation (MiCA). The regulator requires these entities to complete a specific questionnaire detailing their plans to provide crypto-asset services within the Union, with completion taking approximately 15 to 30 minutes. Responses must be submitted by Friday, 26 July 2024, although entities not considering such services are exempt from answering the remaining questions.
To : Regulated Entities i. CIFs ii. UCITS Management Companies iii. AIFMs From : Cyprus Securities and Exchange Commission Date : 26 Ιουνίου 2024 Circular No : C648 Subject : Notification of crypto asset services under article 60 of MiCA The Cyprus Securities and Exchange Commission (the ‘CySEC') wishes to inform the Regulated Entities of the following: Under the Market in Crypto Assets Regulation (MiCA), certain financial entities will have the option to provide crypto-asset services in the Union equivalent to the services and activities for which they are authorised under relevant EU law (see article 60 of MiCA for a detailed overview). To understand to what extent firms with a relevant authorisation are planning to notify MiCA services, you are hereby receiving a questionnaire regarding your plans under MiCA. You are thus kindly requested to fill out the questionnaire. The questionnaire contains sixteen questions. It is expected to take between 15 and 30 minutes to complete the questionnaire. Please note that, if your answer to the fifth question (are you considering to provide crypto related services, with reference to the MiCA notification procedure) is ‘no’, you are not required to complete the other questions. You are requested to submit your answers to this questionnaire by Friday 26 July 2024. Should you need any assistance or clarifications in relation to the above please contact the Authorisations Department of CySEC at authorisations@cysec.gov.cy. Thank you in advance for your cooperation.
Sincerely, Dr. George Theocharides Chairman Cyprus Securities and Exchange Commission