The Cyprus Securities and Exchange Commission (CySEC) has released a Policy Statement outlining the fees payable and information reporting requirements under the Markets in Crypto-Assets Regulation (MiCAR). This European regulation establishes a harmonized framework for crypto-assets across the EU, focusing on those that are fungible and not classified as financial instruments or otherwise excluded from MiCAR’s scope.

MiCAR applies to individuals, legal entities, and undertakings involved in:

• The issuance, public offering, or trading of crypto-assets.

• Providing services related to such crypto-assets within the EU.

The regulation identifies three key categories of crypto-assets:

1. Asset-Referenced Tokens (ARTs): These correspond to "stablecoins" and are regulated under Title III of MiCAR.

2. E-Money Tokens (EMTs): Similar to electronic money, these are regulated under Title IV of MiCAR and excluded from CySEC’s supervisory authority.

3. Other Crypto-Assets: A residual category regulated under Title II of MiCAR.

ARTs and EMTs deemed "significant," as defined by MiCAR, face additional obligations, including oversight by the European Banking Authority (EBA).

MiCAR encompasses a range of crypto-asset-related operations, including:

• Initial offerings and admissions of crypto-assets to trading.

• Service provision related to crypto-assets, as outlined in Title V.

• Authorizations and ongoing obligations for issuers of ARTs and EMTs, detailed in Titles III and IV.

• Market abuse prevention and prohibition measures for crypto-assets, under Title VI.

CySEC also highlighted the inclusion of several Level 2 and Level 3 measures, which are available on its website under the regulatory framework section.

For parties interested in engaging in regulated crypto-asset operations, applications must follow CySEC’s guidelines as specified in its earlier announcements.