The EBA consults on guidelines on reporting of data to assist authorities in their supervisory duties and significance assessment under MiCAR

• The draft Guidelines aim to ensure a common supervisory approach on the data requests with consistent and pre-defined templates across Member States.
• The draft Guidelines will enhance supervisory convergence and ensure a level playing field in the Single Market.

The European Banking Authority (EBA) today launched a consultation on draft Guidelines on reporting requirements to assist competent authorities and the EBA in performing their duties under the Markets in Crypto-assets Regulation (MiCAR). These Guidelines should ensure that Competent Authorities have sufficient comparable information to supervise compliance of issuers with MiCAR requirements and provide the EBA with the information necessary to conduct the significance assessment under MiCAR. The consultation runs until 15 October 2024.

Issuers of asset-referenced tokens (ARTs) and certain e-money tokens (EMTs) are required to report specific information defined under Article 22 MiCAR. These data provisions by the issuers are not enough to allow competent authorities and the EBA to discharge their supervisory tasks and the significance assessment tasks under MiCAR.

The EBA has identified these data gaps and is consulting on draft Guidelines specifying common templates and instructions for issuers to provide the EBA and competent authorities with the necessary information to cover these gaps. In addition, these Guidelines include common templates and instructions that issuers should use to collect the data they need from the relevant Crypto-Asset Service Providers (CASPs).

Consultation process

Comments on the consultation paper can be sent by clicking on the "send your comments" button on the EBA's consultation page. The deadline for the submission of comments is 11 October 2024.

The EBA will hold a virtual public hearing on this consultation paper on 20 September 2024 from 10:30 to 12:00 CET. The EBA invites interested stakeholders to register using this link by 18 September 2024 at 16:00 CET. The dial-in details will be communicated to those who have registered for the meeting.

All contributions received will be published following the end of the consultation, unless requested otherwise.

Legal basis and background

MiCAR regulates the offering to the public and admission to trading of ARTs, EMTs and other type of crypto-assets, as well as the provision of crypto-asset services in the EU. MiCAR sets out a wide range of regulatory requirements, including authorisations, conduct and prudential requirements for issuers of ARTs and EMTs, and mandates the issuers of certain tokens to report certain data points to the CAs under Article 22 MiCAR.

These draft Guidelines specify the content and uniform formats for the submission of information used by competent authorities when exercising their supervisory powers under Article 94(1)(a) and Titles III and IV of the Regulation (EU) 2023/1114 and by the EBA when exercising its supervisory powers under Article 122 of that Regulation.

These draft Guidelines are developed pursuant to Article 16 of Regulation (EU) No 1093/2010. In accordance with Article 16(3) of Regulation (EU) No 1093/2010, competent authorities and financial institutions must make every effort to comply with the Guidelines.

They are addressed to competent authorities as defined in Article 3(1) point (35) of Regulation (EU) 2023/1114 and to issuers of ARTs and issuers of EMTs.