ESMA_QA_2344
Topic
Crypto-Asset Service Provider (CASP)
15/11/2024
Subject Matter
Audit / certification of CASP financial statements
Question
Are CASPs required to get their financial statements audited on an annual basis in order to calculate their own fund requirements?
Level 1 Regulation
MiCA
ESMA_QA_2343
Topic
Crypto-Asset Service Provider (CASP)
15/11/2024
Subject Matter
Minimum capital requirements for CASPs
Question
What are the minimum capital requirements applicable to CASPs providing (i) only crypto-asset services listed under either Class 2 or Class 3, or (ii) providing crypto-asset services listed under Class 1 and Class 3 of Annex 4 of MiCA?
Level 1 Regulation
MiCA
ESMA_QA_2653
Topic
Crypto-Asset Service Provider (CASP)
08/11/2024
Subject Matter
How to distinguish between different execution services
Question
How should the crypto-asset services of ‘exchange of crypto assets for funds’ or ‘exchange of crypto assets for other crypto assets’ (Article 3(1)(16c and d respectively) of MiCA), ‘execution of orders for crypto-assets on behalf of clients’ (Article 3(1)(16e), and ‘reception and transmission of orders for crypto-assets on behalf of clients’ (Article 3(1)(16g)) be distinguished from one another?
Level 1 Regulation
MiCA
ESMA_QA_2320
Topic
Crypto-Asset Service Provider (CASP)
01/11/2024
Subject Matter
Clarification on Withdrawal Requirements under Article 75 of MiCA for CASPs
Question
I seek clarification regarding the obligations of Crypto-Asset Service Providers (CASPs) under Article 75 of the Markets in Crypto-Assets Regulation (MiCA) concerning the ability for customers to withdraw specific crypto assets. Specifically, does Article 75 require CASPs to enable customers to withdraw every cryptocurrency offered for trading on the platform? For example, if a cryptocurrency exchange allows customers to trade Dogecoin but faces technical limitations in facilitating direct Dogecoin withdrawals, would it suffice to offer a conversion option, allowing customers to exchange Dogecoin for Bitcoin, Ethereum, or fiat currency, which they can then withdraw?
Level 1 Regulation
MiCA
ESMA_QA_2306
Topic
Non-equity transparency
16/10/2024
Subject Matter
Questions related to package orders/transactions
Question
[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 4.4]

a) How is the requirement for a package order that ‘Each component of the transactions bears meaningful economic or financial risk related to all the other components’ to be interpreted?
b) Can package orders also include equity instruments? If yes, how is pre- and post-trade transparency applied?
c) When does an investment firm apply the systematic internaliser obligations on a package order level?
d) How should systematic internalisers determine whether package orders which are not liquid as a whole are subject to the transparency obligations in non-equity instruments under Article 18(1) or 18(2) of MiFIR?
e) Which party to a package transaction is required to make the transactions public via an APA?
f) Can package orders (Article 2(1)(49)(b) of MiFIR) also include instruments that are not admitted to trading or traded on a venue?
g) Where an investment firm buys a newly issued bond in the primary market as the result of an allocation and funds its investment by selling another bond to the lead manager of the issuance, simultaneously with and contingent upon the investment in the new issue, would this qualify as a package order for the purpose of pre-trade transparency?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets