Response to consultation on Guidelines on templates for explanations and opinions, and the standardised test for the classification of crypto-assets under MiCAR

1. Do respondents have any comments on the template for the purposes of Article 8(4) Regulation (EU) 2023/1114?

NA

2. Do respondents have any comments on the template for the purposes of Article 17(1) point (b)(ii) and Article 18(2) point (e) of Regulation (EU) 2023/1114?

Crypto Assets which include Asset Referenced Tokens (ARTs) remain a novel technological use case. In the case there is ambiguity on whether a specific Asset Referenced Token (ART) falls under MiCA or other financial legislation (e.g., MiFID II, AIFMD), then MiCA Regulation should take precedent, and be the legislative framework that would apply to that specific token.

This would promote regulatory convergence and ensure industry innovation. 

3. Do you consider that the fields of the template relating to explanations as to regulatory status are sufficiently clear and would enable a proportionate completion in line with the simplicity or complexity of the structure of the crypto-asset to which the explanation or legal opinion relates?

NA

4. Do respondents have any comments on the standardised test?

NA

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