Last November, Consob and Banca d’Italia, in cooperation with the Association of Financial Agents and Credit Brokers (OAM), conducted a preliminary survey to understand the level of interest among operators in Italy in carrying out activities that fall within the scope of Regulation (EU) 2023/1114 (MiCAR).
As is known, MiCAR will be applicable from 30 December 2024, except for the provisions of Titles III and IV relating to asset-referenced tokens and e-money tokens, which will be applicable from 30 June 2024. At the national level, a legislative decree implementing the aforementioned Regulation, which identifies the tasks of Banca d’Italia and Consob as supervisory authorities under MiCAR, is nearing adoption.
Ahead of the application of MiCAR, the European Securities and Markets Authority (ESMA) plans//intends to conduct an exploratory survey at the EU level as well.
The ESMA survey aims to gather information on financial entities interested in providing crypto-asset services by using the procedure of notification to the competent national authorities under Article 60 of MiCAR.
Therefore, to enable Banca d’Italia and Consob to update the information gathered with the national survey of last November, supervised entities based in Italy and entitled to use the aforementioned notification procedure are kindly requested to complete the ESMA questionnaire by 26 July 2024. The questionnaire is available here.
ESMA will receive the responses directly, analyse the aggregate results, and present them to the competent authorities of the individual Member States.
Any questions regarding the content of the ESMA questionnaire can be sent to micar@consob.it, specifying ‘ESMA MiCAR Survey’ in the subject line.
