CySEC Invites Feedback on New Crypto-Asset Regulations

The Cyprus Securities and Exchange Commission (CySEC) has issued a consultation paper (CP-01-2024) on Wednesday, seeking input from stakeholders regarding proposed fees and information requirements for entities governed by Regulation (EU) 2023/1114, also known as MiCAR.

Effective from May 31, 2023, this regulation establishes a unified framework for crypto-assets that are not classified as financial instruments.

MiCAR categorizes crypto-assets into three distinct groups: asset-referenced tokens (ARTs), electronic money tokens (EMTs), and a residual category for other crypto-assets. CySEC’s new responsibilities under MiCAR involve overseeing entities such as offerors of non-ART and non-EMT crypto-assets, issuers of ARTs (excluding those from credit institutions), and Crypto-Asset Service Providers (CASPs).

In an effort to gather comprehensive feedback on the regulatory framework for crypto-assets, CySEC has invited interested parties to submit their responses to its Policy Department via email at policy@cysec.gov.cy by July 17, 2024, as specified in CP-01-2024.

This consultation is aimed at collecting insights that will help shape CySEC’s oversight and operational guidelines in the rapidly evolving crypto-asset sector.

By fLEXI tEAM