Guidelines on reporting under EMIR REFIT clarify that under Collateralise-to-Market model (CTM) the counterparties should report total variation margin and total collateral, whereas under the Settle-to-Market model the counterparties should report the daily change in the variation margin and the collateral. In which field counterparties should report whether the portfolio of cleared derivatives is collateralised under CTM or STM model?

Can you elaborate the requirement above? What an effective check should contain and how should be implemented practically?

To which NCA should the notification foreseen under Article 60 of MiCA be submitted?

What crypto-asset services can a credit institution provide under the notification procedure set out in Article 60 of MiCA?

Does the prohibition set out under Article 80(2) to receive "remuneration, discount or non-monetary benefit in return for routing orders received from clients" apply to the crypto-asset services of receiving and transmitting orders on behalf of clients as well as the execution of orders on behalf of clients?