ESMA has responded to the European Commission's proposal to amend the MiCA Regulatory Technical Standards (RTS). They acknowledge the legal limitations and emphasize the importance of the proposal's policy goals. ESMA recognizes proposed amendments regarding notification requirements for financial entities offering crypto-asset services and the application process for crypto-asset service providers (CASPs). They recommend changes to the MiCA regulation, such as requiring cybersecurity audits and checks on the good repute of management members. ESMA has shared its opinion with the Commission, the European Parliament, and the European Council. The European Union is also working to reduce the securities settlement cycle, and ESMA is collaborating with other authorities for the transition.



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