EU proposes that ESMA supervise significant CASPs
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AI-assisted source synthesis · not an independent investigation.
The Council of the European Union has agreed on the main elements of its negotiating position on the MISP, proposing adjustments to the supervisory arrangements for crypto-asset service providers (CASPs) under the Markets in Crypto-Assets Regulation (MiCA): ESMA would supervise “significant” CASPs rather than all CASPs subject to MiCA. The existing MiCA threshold of 15 million EU users would be retained; at the same time, alternative designation criteria may be added. A CASP with slightly more than 1 million users could also be designated as a significant institution if it simultaneously meets at least two of the tests, such as those relating to the value of assets held in custody and trading volume. The relevant content is still the Council of the European Union’s negotiating position and is not a final rule.
AI-written from reports · updated 5 days ago
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- Ledger InsightsCouncil of the EU proposes that ESMA supervise only “significant” crypto-asset service providers
The Council of the EU agreed on the main elements of its negotiating position on MISP, proposing that ESMA supervise “significant” CASPs rather than all CASPs subject to MiCA. The existing MiCA threshold of 15 million EU users would be retained, but new alternative conditions would be added: a CASP with slightly more than 1 million users could also be deemed a significant institution if it meets at least two tests, including the value of assets under custody and trading volume.
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