EU securities regulator proposes rules on white papers, trade transparency and record keeping




The European Securities and Markets Authority (ESMA) has released its second consultation paper on the implementation of the EU’s Markets in Crypto-Assets (MiCA) law passed back in June. The release kicks off phase 2 of the ESMA’s MiCA consultation.

MiCA creates a new EU-wide regulatory framework for digital assets, addressing everything from licensing to stablecoin backing. As is typical with so-called ‘level 1’ EU legislation, it leaves the more granular implementations to the European Commission and other EU supervisory authorities (such as ESMA) to work out.

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