FESE welcomes the opportunity to contribute its views to the ESMA consultation on the Technical Standards specifying certain requirements under MiCA.
The consultation covers RTS and ITS in the following areas:
- RTS and ITS on the notification by certain financial entities of their intention to provide crypto-asset services,
- RTS and ITS on the authorisation of crypto-asset service providers,
- RTS on complaints handling by crypto-asset service providers,
- RTS on the identification, prevention, management, and disclosure of conflicts of interest, and
- RTS on the proposed acquisition of a qualifying holding in a crypto-asset service provider.
FESE believes that the current text of the RTS on the notification to provide crypto-asset services requires further specification on which systems or tools can be used by the trading platform to collect and execute the orders. FESE suggests clearly stating that the order book and any other trading system (e.g. liquidity pool) are the systems to collect and execute orders by the trading platform for crypto assets.