Europe Published Final Draft Technical Standards on Prudential Matters under MiCA

Europe Published Final Draft Technical Standards on Prudential Matters under MiCA

Reported by Coindesk, the European Banking Authority (EBA) published on Thursday the final draft technical standards on prudential matters for firms to comply with under the Markets in Crypto Assets (MiCA) legislation.

The wide-ranging package of bespoke rules for the crypto sector, MiCA was passed last year. The legislation comes with rules for crypto companies and stablecoin issuers.

The EBA's standards set out a criteria for stress testing programmes and spells out the liquidity requirements of reserve assets as well as a recovery plan that issuers need to develop and more.

"Issuers of asset referenced tokens are required to conduct stress testing based on plausible financial stress scenarios, and competent authorities will be able to increase the amount of own funds requirements of an issuer of asset-referenced tokens having regard to the risk outlook and stress testing results," the recently published package read.

The draft technical standards were developed in close cooperation with bloc of 27 nations other bodies the European Securities and Markets Authority (ESMA) and the European Central Bank (ECB).

Source

Policy and Regulation

Related News
Trump's RNC speech gave tech enthusiasts hope for the future Trump's RNC speech gave tech enthusiasts hope for the future
Trump Says He’ll Release Fourth NFT Collection: 'The People Want Me to Do Another One' Trump Says He’ll Release Fourth NFT Collection: 'The People Want Me to Do Another One'
Bitcoin breaks above $63,000 after Trump survives assassination attempt Bitcoin breaks above $63,000 after Trump survives assassination attempt
Crypto miners stole $723M of electricity in Malaysia since 2018: Report Crypto miners stole $723M of electricity in Malaysia since 2018: Report
Elliptic alleges money laundering and other crimes linked to multi-billion dollar marketplace Huione Guarantee Elliptic alleges money laundering and other crimes linked to multi-billion dollar marketplace Huione Guarantee
Latest News More More
1 Hour Ago Blockchain security firm Veridise finds ZK audits are twice as likely to uncover critical issues
3 Days Ago WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
3 Days Ago Hamster Kombat users targeted by phishing attacks and fake airdrops
4 Days Ago US spot bitcoin ETFs post ninth consecutive day of net inflows
4 Days Ago Indian crypto exchange WazirX exploited for over $230 million
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open