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Directive/regulation establishing a European framework for markets in crypto assets

Banking and financial services

The overall objective of the initiative is to provide clarity as concerns the applicability of the EU financial services legislation to crypto-assets (and related activities) and to ensure that the regulatory framework adequately addresses the risks inherent to these assets and related services. The aim is to find a proportionate approach to these objectives without creating undue regulatory obstacles. This will facilitate competition and support further innovation.

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Public consultation

ID: 12089

Lobbying Activity

20 responses

Consultation response

Meta Platforms Ireland Limited and its various subsidiaries, 10 Jan 2021

See input and comments in attached pdf-file.

Consultation response

DIGITALEUROPE, 11 Jan 2021

Please find attached our contribution.

AFME urges clarity on crypto-asset definitions and custody liability

Association for Financial Markets in Europe, 11 Jan 2021

AFME requests more technically accurate definitions of DLT and crypto-assets, clearer custody rules, and shorter pilot regime duration with more flexibility. They argue current definitions are too broad and custodial liability requirements are disproportionate, potentially deterring service provision.
This would reduce legal uncertainty and compliance costs for their members providing crypto-asset services.
Investors lose protections if custody standards are weakened or if firms avoid providing services.

European Banking Federation seeks level playing field in crypto regulation

European Banking Federation, 11 Jan 2021

The federation requests clearer definitions of crypto-asset categories, consistent supervision frameworks, and alignment with existing financial services rules. They want clarification on outsourcing requirements, liability rules, and transitional periods to avoid regulatory fragmentation.
This would allow banks to offer new crypto services under familiar rules.

Consultation response

Mastercard Europe, 11 Jan 2021

Mastercard welcomes the opportunity provided by the Commission to give feedback on the proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on Markets in Crypto-assets, and amending Directive (EU) 2019/1937. Please find our feedback in the attached document.

Consultation response

Bundesverband deutscher Banken e.V., 11 Jan 2021

Second try, since upload of the PDF document seems to not have worked out: The Association of German Banks welcomes the European Commission’s intention to run pilot operations to identify what adjustments need to be made to existing EU regulation of services involving the issuance, safekeeping and…

Consultation response

Société Générale, 11 Jan 2021

Societe Generale welcomes the proposal for a regulation on a pilot regime for market infrastructures based on DLT, as it will support the development of secondary markets of cryptoassets qualifying as transferable securities, and represent a meaningful incentive for Societe Generale group to…

Consultation response

Associazione Bancaria Italiana, 11 Jan 2021

The Italian Banking Association would like to thank the European Commission for the opportunity to provide feedback on the proposed Regulation on a pilot regime for market infrastructures based on distributed ledger technology. Please see document attached.

Consultation response

Associazione Bancaria Italiana, 11 Jan 2021

The Italian Banking Association would like to thank the European Commission for the opportunity to provide feedback on the proposed Regulation on Markets in crypto-assets (MiCA). Please see document attached.

Consultation response

Deutsche Börse AG, 11 Jan 2021

Dear Sir or Madam, we appreciate the possibility to give feedback to the European Commission´s proposals for a framework for crypto-assets. Please find attached the position paper of Deutsche Börse Group.

Consultation response

BANCO BILBAO VIZCAYA ARGENTARIA, 11 Jan 2021

BBVA welcomes the EC’s proposal to regulate the issuance of different types of crypto-assets as well as the provision of related services, as it is broadly consistent with the principle of "same activity, same risk, same regulation". However, some specific provisions should be further clarified and…

Consultation response

BVI Bundesverband Investment und Asset Management e.V., 11 Jan 2021

BVI would like to take this opportunity to provide its views on the proposed framework for the pilot regime for market infrastructure based on distributed ledger technology (DLT). An EU regulatory framework should provide a level playing field between crypto and traditional investments in terms of…

Consultation response

BVI Bundesverband Investment und Asset Management e.V., 11 Jan 2021

BVI would like to take this opportunity to provide its views on the proposed framework for markets in crypto-assets (MiCA). An EU regulatory framework should provide a level playing field between crypto and traditional investments in terms of transparency / disclosure obligations as well as risk…

Consultation response

European Savings and Retail Banking Group, 16 Jan 2020

ESBG supports the establishment of an EU regulatory framework for crypto-asset markets as a key priority; especially as crypto-assets are currently not covered by current EU-legislation. As the main features that constitute a crypto-asset are of a digital/virtual nature, relying on cryptography and…

Consultation response

Die Deutsche Kreditwirtschaft, 6 Jan 2021

Our comments in detail on the “Proposal for a Regulation on Markets in Crypto-assets” as part of the European commission’s Digital Finance Package are enclosed by the attached document. Furthermore, we will submit still an additional commentary.

Consultation response

Bundesverband Alternative Investments e.V., 11 Jan 2021

Regarding digitization we support legislative initiatives as the Digital Finance Package on EU level or the introduction of electronic and crypto securities (eWpG) on German national level for various reasons. On the one hand blockchain / DLT will have significantly impact the entire asset…

Consultation response

Fédération Européenne des Conseils et Intermédiaires Financiers, 11 Jan 2021

We support crypto-asset regulations that are no longer just at the Member State level, but at the Union level. Indeed, some Member States have already put in place precise rules, which are not necessarily compatible from one State to another, while others have not even started to adapt their…

Consultation response

Boerse Stuttgart GmbH, 11 Jan 2021

Dear Sir or Madam, Please find enclosed the comments of Börse Stuttgart for the legislative proposal for a regulation on a pilot regime for market infrastructures based on distributed ledger technology. We would like to thank you in advance for the consideration of our concerns.

Consultation response

Boerse Stuttgart GmbH, 11 Jan 2021

Dear Sir or Madam, Please find enclosed the comments of Börse Stuttgart for the legislative proposal for a regulation on markets in crypto-assets. We would like to thank you in advance for the consideration of our concerns.

Consultation response

ASSOCIAZIONE NAZIONALE CONSULENTI FINANZIARI, 11 Jan 2021

Dear Commission, in accepting the invitation referred to in the consultation paper on the Proposal for a regulation of the European Parliament and of the Council on Markets in Crypto-assets, and amending Directive (EU) 2019/1937, ANASF - National Association of Financial Advisors intends to express…