MiCA Implementation Timeline

European Securities and Markets Authority (ESMA), which serves as the EU’s financial markets regulator, has released its second consultation package related to the MiCA.

The documents published 05/10/2023 cover five key areas:

🔹Sustainability indicators for distributed ledgers

🔹Disclosures of inside information

🔹Technical requirements for white papers

🔹Trade transparency measures

🔹Record-keeping and business continuity requirements for crypto-asset service providers

ESMA will compile a final report based on the feedback received and submit the draft technical standards to the European Commission for endorsement, no later than June 30, 2024.

Furthermore, ESMA plans to release a third consultation package in Q1 of 2024, addressing the remaining 18-month mandates.

For additional details on the MiCA implementing measures and the transitional period, please refer to our infographic.