Asset-referenced and e-money tokens (MiCAR)

Issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs) are required to hold the relevant authorisation to carry out activities in the EU. The relevant requirements are set out in the Markets in Crypto-assets Regulation (MiCAR) and are complemented by technical standards and guidelines developed by the EBA.

Documents

Statement on the application of MiCAR to ARTs and EMTs | Priorities for the supervision of for ART and EMT issuers
Statement on timely preparatory steps towards the application of MiCAR to asset-referenced and e-money tokens | Template

Links

Technical Standards, Guidelines & Recommendations

Technical standards

Status

Type of institution

Legal act

Date

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards on requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens (ARTs) under MiCAR

The Regulatory Technical Standards specifying the requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens (ARTs) under the Markets in Crypto-Assets Regulation (MiCAR) aim at strengthening the management of conflicts of interest by issuers of ARTs and ensure convergence of requirements across the European Union.

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards to specify the highly liquid financial instruments in the reserve of assets under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards further specifying the liquidity requirements of the reserve of assets under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards to specify the minimum contents of the liquidity management policy and procedures under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards to specify the adjustment of own funds requirements and stress testing of issuers of asset-referenced tokens and of e-money tokens under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards on the procedure and timeframe to adjust own funds requirements for ‘significant’ issuers under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards on the use of ARTs and EMTs denominated in a non-EU currency as a means of exchange (MiCAR)

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards on supervisory colleges under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Implementing Technical Standards on the reporting on ARTs and EMTs denominated in a non-EU currency under MiCAR

Final draft RTS/ITS adopted by the EBA and submitted to the European Commission

Regulatory Technical Standards on the minimum content of the governance arrangements on the remuneration policy under MiCAR

Guidelines

Opinions, Reports and other Publications

Other publications