TechFlow reported on July 17 that, according to crowdfundinsider, three major European regulatory authorities (EBA, EIOPA, and ESMA) have released a consultation paper on guidelines for the Markets in Crypto-Assets Regulation (MiCAR), aiming to provide standardized tests and templates for classifying crypto assets to promote consistent approaches among market participants and regulators.
The guidelines include classification instructions for asset-referenced tokens (ART) and non-ART or EMT crypto assets, requiring accompanying legal opinions. The public may submit feedback via the consultation page until October 12, 2024. The European regulators will hold an online public hearing on September 23, 2024, and invite relevant stakeholders to register and participate. According to Article 97(1) of MiCAR, the final guidelines must be published by December 30, 2024.
