| ESMA encourages preparations for a smooth transition to MiCA
October 17, 2023--The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, today publishes a letter and a statement to encourage preparations for a smooth transition to MiCA.
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| In the letter addressed to the Economic and Financial Affairs Council (ECOFIN), ESMA Chair, Verena Ross, calls on Member States to designate without delay the competent authorities responsible for carrying out the functions and duties provided for under MiCA, and to consider limiting the optional grand-fathering period to 12-months should they choose to offer it in their jurisdictions.
ESMA has also published a statement addressed to entities providing crypto-asset services and the national competent authorities that will be responsible for their supervision, which lists expectations for each from now until the end of the MiCA transitional period. |
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