Markets in Crypto-Assets Regulation: EBA provides final guidance on reporting requirements

The European Banking Authority (EBA) today published its final Guidelines on reporting requirements under the Markets in Crypto-Assets Regulation (MiCAR) to ensure that Competent Authorities receive 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.

These Guidelines aim at closing the reporting data gaps identified by the EBA, enhancing supervisory convergence, facilitating a common supervisory approach across Member States as well as ensuring a level playing field in the Single Market. They will equip Competent Authorities with sufficient comparable information to supervise compliance of issuers with MiCAR requirements. Additionally, they will ensure that the EBA has the necessary information to conduct the annual significance assessment under MiCAR.

These Guidelines also include common templates and instructions that issuers should use to collect the data they need from the relevant Crypto-Asset Service Providers (CASPs), in line with the data sharing approach implemented by the Commission Implementing Regulation (EU) 2024/2902.

In addition, to support compliance by issuers of asset referenced tokens (ARTs) and e-money tokens (EMTs) with the requirements set by the Commission Implementing Regulation (EU) 2024/2902 and these Guidelines, the EBA also published a visual explainer providing guidance on which templates should be submitted by the different types of issuers.

Legal basis and background

MiCAR regulates the offering to the public and admission to trading of ARTs, EMTs and other types 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 Competent Authorities under Article 22 MiCAR.

These Guidelines are developed on an own initiative basis pursuant to Article 16 of the EBA Founding Regulation – (EU) No 1093/2010, providing the EBA with the power to issue guidelines addressed to competent authorities or financial institutions. 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.