Guidelines on internal governance arrangements for issuers of ARTs under MiCAR

These Guidelines on internal governance arrangements for issuers of asset-referenced tokens (ARTs) under the Markets in Crypto-Assets Regulation (MiCAR), specify the governance provisions that these issuers should comply with, taking into account the proportionality principle. This governance framework aims at ensuring a sound management of all risks associated with the activities of issuers of ARTs, such as operational risks, including fraud, cyber, and compliance risks. In addition, the provisions aim to adequately protect consumers and investors.