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ARTICLE · 30 DECEMBER 2024

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EBA And ESMA Strengthen Oversight With New MiCAR Guidelines

GTG Legal
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GTG Legal

GTG Legal

Since its founding in 1997, GTG has been at the forefront of Malta’s legal profession, blending...

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The European Banking Authority (‘EBA') has released its final Guidelines on reporting requirements under Regulation 2023/1114 (EU) the Markets in Crypto-Assets Regulation (‘MiCAR')...

MaltaFinance and Banking
Catriona Cuschieri
Catriona Cuschieri

New MiCAR Guidelines

The European Banking Authority ('EBA') has released its final Guidelines on reporting requirements under Regulation 2023/1114 (EU) the Markets in Crypto-Assets Regulation ('MiCAR'), aiming to equip European competent authorities with standardised information to monitor compliance among crypto-asset issuers and to provide the EBA with the necessary guidelines to perform annual significance assessments. These guidelines address critical data gaps, foster supervisory convergence, and ensure a consistent regulatory approach across EU Member States.

Enhancing Supervisory Consistency

The new guidelines focus on providing competent authorities—including the Malta Financial Services Authority (MFSA) in the Maltese context—with standardised data to enforce compliance with MiCAR. This ensures they have the necessary information to fulfil their supervisory responsibilities. The EBA emphasised that these measures are vital for establishing a

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