Regulatory Alerts2025-03-10
Added · Updated
Guidelines on explanations and opinions, and the standardised test for crypto-assets under MiCA
Competent authorities must incorporate these guidelines into their supervisory practices by 12 May 2025. Offerors, persons seeking admission to trading, and trading platform operators for crypto-assets other than asset-referenced tokens or electronic money tokens must use the specified template to provide an explanation of why the asset is not excluded from or classified as such tokens. Credit institutions and other legal persons intending to offer or trade asset-referenced tokens must use the designated template for a legal opinion on the asset's qualification, issued by an independent legal adviser. Competent authorities and other addressees must apply a common approach using the provided flow chart to determine the regulatory classification of crypto-assets on a case-by-case basis.
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