CySEC seeks feedback on crypto-asset regulations
The Cyprus Securities and Exchange Commission (CySEC) on Wednesday released a consultation paper (CP-01-2024) inviting stakeholders to provide feedback on proposed fees and information requirements for entities falling under Regulation (EU) 2023/1114, also known as MiCAR.
This regulation, effective from May 31, 2023, establishes a unified framework for crypto-assets not classified as financial instruments.
MiCAR categorises crypto-assets into three groups. These include asset-referenced tokens (ARTs), electronic money tokens (EMTs), and a residual category for other crypto-assets.
Moreover, CySEC’s new responsibilities under MiCAR include overseeing entities such as offerors of non-ART and non-EMT crypto-assets, issuers of ARTs (excluding those from credit institutions), and Crypto-Asset Service Providers (CASPs).
Interested parties are encouraged to submit their responses to CySEC’s Policy Department by email (policy@cysec.gov.cy) before July 17, 2024, as outlined in CP-01-2024.
This consultation aims to gather insights on the regulatory framework for crypto-assets, shaping CySEC’s oversight and operational guidelines in this evolving sector.