mica.

ChainCatcher news, EU regulators have released new guidelines allowing relevant market participants to classify cryptocurrencies and digital assets according to the Markets in Crypto-Assets Regulation (MiCA). The newly published guidelines provide a structured approach to classifying various types of crypto assets. This includes determining whether a token falls under MiCA through issue-based prompts, such as who the issuer is, whether it is based on blockchain, or whether it is a financial instrument. It also helps to determine whether the token in question meets the criteria for standard crypto asset qualification under MiCA, or whether it can be classified as other types of assets, such as electronic money tokens (EMT) or asset-referenced tokens (ART).Issuers must attach a legal opinion to the white paper that clearly explains the classification of these tokens. The opinion should confirm that these tokens are neither electronic money tokens (EMT) nor any other type of crypto asset that falls outside the scope of MiCA.

ChainCatcher news, according to Coindesk, the far-right party National Rally (RN) is leading in the first round of voting in the French elections held on Sunday. The election results may lead to a more polarized new parliament in France between the left and the right, making domestic policy-making, including cryptocurrency policy, uncertain and difficult. Mark Foster, the EU policy head of the Crypto Council for Innovation, stated that this will limit the president's power on the international and European stage.In addition, France has made significant progress in the cryptocurrency sector, registering 74 cryptocurrency companies last year, with expectations that this number will increase to 100. The EU's Markets in Crypto-Assets Regulation (MiCA) will also come into full effect by the end of the year, and France's current cryptocurrency regulations will provide a first-mover advantage for the implementation of MiCA.

ChainCatcher news, according to CoinDesk, the European Union's cryptocurrency regulatory framework, the Markets in Crypto-Assets Regulation (MiCA), became law in 2023. MiCA establishes licensing requirements for cryptocurrency issuers and service providers, with stablecoin rules taking effect in June.However, Rowan Varrall, Deputy Director of the DTI Foundation, explained that issuers of Asset-Referenced Tokens (ART) and Electronic Money Tokens (EMT) must begin sustainability disclosures from June 30, 2024, while crypto asset service providers must start developing disclosure requirements by the end of the year.Despite clarifications from the European Securities and Markets Authority (ESMA), several crypto asset service providers (CASPS) in the EU may not be aware of the correct deadline for sustainability disclosures.

ChainCatcher news, according to CoinDesk, the European Banking Authority (EBA) released the final draft of the technical standards for prudential requirements that companies must comply with under the Markets in Crypto-Assets (MiCA) legislation on Thursday. The EBA's standards establish the criteria for stress testing programs and detail the liquidity requirements for reserve assets, as well as the recovery plans that issuers need to develop.The recently published proposal states: "Issuers of asset-referenced tokens need to conduct stress tests based on reasonable financial stress scenarios, and the competent authority will be able to increase the own funds requirements for issuers of asset-referenced tokens based on the risk outlook and the results of the stress tests."This technical standard draft was developed in close cooperation with groups from 27 countries, the European Securities and Markets Authority (ESMA), and the European Central Bank (ECB), among other institutions. MiCA is a comprehensive set of tailored rules designed for the cryptocurrency industry, passed last year. The legislation sets rules for cryptocurrency companies and stablecoin issuers.