Share this article
ESMA Publishes Final Guidance on MiCA Implementation Days Before Deadline
The regulator is releasing final guidance to help member states get ready for MiCA which is set to take effect imminently, as some nations are trailing behind.
Updated Dec 17, 2024, 12:04 p.m. Published Dec 17, 2024, 12:03 p.m.
What to know:
- ESMA published its final report on reverse solicitation, systems draft technical standards on market abuse prevention, and what crypto may constitute as a financial instrument.
- Countries have experienced delays in implementing MiCA in part due to technical standards from ESMA.
The European Securities and Markets Authority (ESMA) has released its final guidance on Tuesday to help member states implement the impending rules.
ESMA published its final report on reverse solicitation, systems, what crypto may constitute as a financial instrument and draft technical standards on market abuse prevention.
STORY CONTINUES BELOW
The European Union's Markets in Crypto Asset (MiCA) rules - bespoke rules for the crypto sector - are meant to come into force by December 30 across the bloc of 27 nations. But some countries are yet to put in place legislation to implement MiCA.
Portugal's central bank even told CoinDesk on Monday that it is yet to figure out which national competent authority will be responsible for the rules since legislation has not passed.
A part of what caused delays for national competent authorities was the short period between ESMA releasing its final technical standards in October and the implementation date, industry trade associations told CoinDesk.
"Looking ahead, as the transitional period progresses, we will continue to provide guidance and work with all [National Competent Authorities] NCAs to ensure the smooth implementation of MiCA and to support a level playing field through supervisory convergence actions,” Verena Ross, ESMA Chair, said.
Read more: EU Countries Struggle to Implement MiCA as Deadline for Crypto Regulatory Revamp Looms
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Small Texas Lender Monet Joining Field of Crypto-Focused Banks
The bank is owned by billionaire Andy Beal, a major supporter of U.S. President Donald Trump's 2016 campaign.
Top Stories
