EBA issues opinion on MiCAR RTS changes

According to the European Union, MiCA establishes uniform rules for crypto-asset issuers and service providers not covered by existing EU laws. It aims to ensure transparency, consumer protection, and market stability, with specific obligations for different types of crypto-assets, including e-money and asset-referenced tokens. The regulation will be effective from December 30, 2024, and includes provisions on governance, disclosure, and preventing market abuse, with oversight by EU authorities like the EBA and ESMA.

The EBA is an independent EU agency responsible for ensuring effective and consistent regulation and supervision within the European banking sector. Its primary mission is to enhance the stability and integrity of the EU financial system through transparent and fair regulation. The EBA contributes to creating harmonized prudential rules for financial institutions and promotes convergence in supervisory practices. It also conducts risk assessments, oversees digital and operational resilience, and works to prevent financial crime. Additionally, it provides advice to EU institutions and resolves cross-border financial disputes.