ESMA Consultation Papers on MiCA Guidelines

Feedback is requested from stakeholders on:

• Guidelines on reversed solicitation relating to the conditions of application of the reverse solicitation exemption and the supervision practices that National Competent Authorities (NCAs) may take to prevent its circumvention.
• Guidelines on conditions and criteria for the classification of crypto-assets as financial instruments which aims to bridge the MiCA regulation and the Markets in Financial Instruments Directive II (MiFID II) and ensure consistency across the EU.

The ESMA Consultations will run until 29 April 2024.