MiCA: Summary of All Texts

Significant ARTs / EMTs — Supervisory colleges

RTS specifying conditions for the establishment and the functioning of supervisory colleges (for each issuer of a significant ART or a significant EMT)

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

Significant ARTs / EMTs — Renumeration policy

RTS specifying the minimum content of the governance arrangements on the remuneration policy

• Status: Adopted — to be published in the Official Journal 
• Source: European Commission

ARTs / EMTs — Liquidity requirements

RTS for specifying the highly liquid financial instruments with minimal market risk, credit risk, and concentration risk (of the reserve of assets)

• Status: Final text published — to be adopted
• Source: EBA

RTS for further specifying the liquidity requirements of the reserve of assets

• Status: Final text published — to be adopted
• Source: EBA

RTS for specifying the minimum contents of the liquidity management policy and procedures

• Status: Final text published — to be adopted
• Source: EBA 

ARTs / EMTs — Own funds and stress testing

RTS specifying adjustment of own funds requirement and minimum features of stress testing programmes of issuers of ARTs or of EMTs subject to such requirements

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

RTS specifying the procedure and timeframe for an issuer to adjust the amount of its own funds to 3% of the average amount of the reserve of assets

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

ARTs / EMTs — Reporting requirements

RTS specifying the methodology to estimate the number and value of transactions associated to uses of ARTs as a means of exchange and of EMTs denominated in a currency that is not an official currency of a Member State 

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

ITS with regard to reporting related to ARTs and related to EMTs denominated in a currency that is not an official currency of a Member State

• Status: Published in the Official Journal — applies from 1 January 2025
• Source: Official Journal 

ARTs — Complaints handling

RTS to further specify the requirements, templates, and procedures for handling complaints (for issuers of ARTs)

• Status: Adopted — to be published in the Official Journal
• Source: European Commission 

ARTs — Authorisation to issue ARTs

RTS specifying the information to be contained in an application for authorisation to offer to the public or to admit to trading ARTs

• Status: Final text published — to be adopted
• Source: EBA

ITS with regard to standard forms, templates, and procedures for the information to be included in the application for authorisation to offer to the public or to admit to trading ARTs

• Status: Final text published — to be adopted
• Source: EBA

ARTs — Suitability requirements and acquiring a qualifying holding in an ART issuer

RTS specifying the detailed content of information necessary to carry out the assessment of a proposed acquisition of qualifying holdings in issuers of ARTs

• Status: Adopted — to be published in the Official Journal 
• Source: European Commission

Requirements for all CASPs

RTS on continuity and regularity in the performance of cryptoasset services 

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

RTS specifying records to be kept of all cryptoasset services, activities, orders, and transactions undertaken

• Status: Final text published — to be adopted
• Source: ESMA

RTS on the requirements, templates, and procedures for handling complaints

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

RTS specifying the requirements for policies and procedures on conflicts of interest as well as the details and methodology for the content of disclosures of conflicts of interest  

• Status: Final text published — to be adopted
• Source: ESMA

All CASPs — Authorisation and notifications to provide cryptoasset services

RTS specifying the information to be included in a notification by certain financial entities of their intention to provide cryptoasset services

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

ITS with regard to standard forms, templates, and procedures for the information to be included in the notification by certain entities of their intention to provide cryptoasset services

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

RTS specifying the information to be included in an application for authorisation as a CASP 

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

ITS with regard to standard forms, templates, and procedures for the information to be included in the application for the authorisation of a CASP

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

All CASPs — Acquiring a qualifying holding

RTS specifying the detailed content of information necessary to carry out the assessment of a proposed acquisition of a qualifying holding in a CASP 

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

CASPs — Trading platform requirements

RTS specifying the manners in which transparency data for cryptoasset service providers operating a trading platform for cryptoassets is to be presented

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

RTS specifying the content and format of order book records for cryptoasset service providers operating a trading platform for cryptoassets

• Status: Adopted — to be published in the Official Journal
• Source: European Commission

RTS specifying the content, methodologies, and presentation of information in respect of sustainability indicators in relation to adverse impacts on the climate and other environment‐related adverse impacts

• Status: Adopted — to be published in the Official Journal 
• Source: European Commission

ITS with regard to forms, formats, and templates for the cryptoasset white papers

• Status: Published in the Official Journal — applies from 23 December 2025
• Source: Official Journal

RTS specifying the data necessary for the classification of cryptoasset white papers and the practical arrangements to ensure that such data is machine-readable 

• Status: Adopted — to be published in the Official Journal 
• Source: European Commission

RTS specifying the procedure for the approval of a cryptoasset white paper (for ARTs issued by credit institutions)

• Status: Adopted — to be published in the Official Journal 
• Source: European Commission

RTS specifying certain requirements in relation to the detection and prevention of market abuse

• Status: Final text published — to be adopted
• Source: ESMA 

ITS with regard to the technical means for appropriate public disclosure of inside information and for delaying the public disclosure of inside information

• Status: Published in the Official Journal — applies from 3 December 2024
• Source: Official Journal

RTS specifying requirements for cooperation, exchange of information, and notification between competent authorities, ESAs, and third countries 

• Status: Final text published — to be adopted
• Body: ESMA

RTS on information to be exchanged between competent authorities

• Status: Adopted — to be published in the Official Journal
• Body: European Commission

ITS with regard to standard forms, templates, and procedures for the cooperation and exchange of information between competent authorities

• Status: Published in the Official Journal — applies from 16 December 2024
• Body: Official Journal

ITS with regard to standard forms, templates, and procedures for the cooperation and exchange of information between competent authorities and ESMA/EBA

• Status: In force (subject to relevant transitional period)
• Body: Official Journal

RTS establishing a template document for cooperation arrangements between competent authorities and supervisory authorities of third countries

• Status: Adopted — to be published in the Official Journal
• Body: European Commission 

Significant ARTs / EMTs

Technical advice in response to the Commission’s call for advice on two Delegated Acts concerning certain criteria for the classification of ARTs and EMTs as significant and the fees that are to be charged to such issuers

• Status: N/A
• Source: EBA

Decision concerning the procedure for the classification of ARTs and EMTs as significant and the transfer of supervisory powers and reporting on those tokens following the classification as significant under MiCA

• Status: N/A
• Source: EBA

ARTs / EMTs — Liquidity requirements

Guidelines on establishing the common reference parameters of the stress test scenarios for the liquidity stress tests referred to in Article 45(4) MiCA

• Status: Final text published — to be adopted
• Source: EBA

ARTs / EMTs — Reporting requirements

Guidelines on templates to assist competent authorities in performing their supervisory duties regarding issuers’ compliance under Titles III and IV (ART / EMT reporting requirements)

• Status: Final text published — to be adopted
• Source: EBA

ARTs / EMTs — Recovery plans

Guidelines on recovery plans under Articles 46 and 55 (to be drafted by issuers of ARTs / EMTs) 

• Status: Final text published — to be adopted
• Source: EBA

ARTs / EMTs — Redemption plans

Guidelines on redemption plans under Articles 47 and 55 (to be drafted by issuers of ARTs / EMTs)

• Status: Final text published — to be adopted
• Source: EBA

ARTs — Suitability requirements and acquiring a qualifying holding in an ART issuer

Joint Guidelines on the assessment of the suitability of the members of the management body of issuers of ARTs and of CASPs

• Status: Final text published — to be adopted
• Source: EBA and ESMA 

ARTs — Governance arrangements

Guidelines on the minimum content of the governance arrangements for issuers of ARTs under Article 34(13) MiCA

• Status: Final text published — to be adopted
• Source: EBA

Requirements for other tokens

Guidelines on the maintenance of systems and security access protocols in conformity with Union standards for offerors and persons seeking admission to trading of cryptoassets

• Status: Final text published — to be adopted
• Source: ESMA

All CASPs — Authorisations of CASPs and notifications to provide crypto-asset services

ESMA opinion on MiCA regulatory technical standards on the authorisations of crypto-asset service providers and notifications by certain financial entities to provide crypto-asset services

• Status: N/A
• Source: ESMA (in addition see here and here for the European Commission’s letter to ESMA on the same)

European Commission Letter to EBA and ESMA on the interplay between MiCA and PSD2 

• Status: N/A
• Source: European Commission (in addition see here for the EBA’s letter to European Commission on the same)

All CASPs — Acquiring a qualifying holding

Joint Guidelines on the assessment of the suitability of the shareholders or members, whether direct or indirect, with qualifying holdings in issuers of ARTs or of CASPs

• Status: Final text published — to be adopted 
• Source: EBA and ESMA

Joint Guidelines on the assessment of the suitability of the members of the management body of issuers of ARTs and of CASPs

• Status: Final text published — to be adopted
• Source: EBA and ESMA

Advice and portfolio management requirements

Guidelines on certain aspects of the suitability requirements and format of the periodic statement for portfolio management activities

• Status: Final text published — to be adopted 
• Source: ESMA

Transfer services requirements

Guidelines on the procedures and policies, including the rights of clients, in the context of transfer services for cryptoassets

• Status: Final text published — to be adopted
• Source: ESMA

ESMA Proof of Concept (PoC) — White papers

• Status: N/A
• Source: ESMA

ESMA Independent study on data formats for text-based disclosures (white paper data formats)

• Status: N/A
• Source: ESMA

ESMA Study on how financial instrument transactions are registered in various DLTs

• Status: N/A
• Source: ESMA

Guidelines on templates for explanations and opinions, and the standardised test for the classification of cryptoassets including ARTs

• Status: Final text published — to be adopted
• Source: ESAs (ESMA, EBA, and EIOPA)

Guidelines on the conditions and criteria for the qualification of cryptoassets as financial instruments

• Status: Final text published — to be adopted 
• Source: ESMA

SMSG advice to ESMA on its consultation papers on reverse solicitation and the qualification of cryptoassets as financial instruments under MiCA

• Status: N/A
• Source: SMSG

Guidelines on reverse solicitation under MiCA

• Status: Final text published — to be adopted
• Source: ESMA

ESMA opinion to support the convergent application of MiCA (regarding broker models and third-country routing)

• Status: N/A
• Source: ESMA

SMSG advice to ESMA on its consultation papers on reverse solicitation and the qualification of cryptoassets as financial instruments under MiCA

• Status: N/A
• Source: SMSG

Transitional measures

ESMA Letter to Member States encouraging a smooth transition to MiCA and limiting transitional measures

• Status: N/A
• Source: ESMA

ESMA Statement encouraging market participants and competent authorities to start preparing for the transition to MiCA

• Status: N/A
• Source: ESMA

List of grandfathering periods decided by each Member State under MiCA

• Status: N/A
• Source: ESMA

Preparing for MiCA

EBA Statement financial institutions and other undertakings who carry out ART / EMT activities prior to 30 June 2024 to prepare for MiCA

• Status: N/A
• Source: EBA

EBA Template — for financial institutions and other undertakings to notify their competent authority of their ART / EMT activities

• Status: N/A
• Source: EBA

SMSG advice

SMSG advice to ESMA on its third consultation paper on MiCA.

• Status: N/A
• Source: SMSG

SMSG advice to ESMA on its second consultation paper MiCA

• Status: N/A
• Source: SMSG

SMSG advice to ESMA on its first consultation paper on MiCA 

• Status: N/A
• Source: SMSG

MiCA Upcoming Texts

Delegated Act in accordance with Article 139 MiCA to specify technical elements of the definitions in Article 3(1) MiCA, and to adjust them to market and technological developments

• Status: No material published to date; deadline 30 June 2026
• Source: European Commission

Guidelines on supervisory practices among the competent authorities to prevent and detect market abuse (to the extent not already covered by the RTS referred to in Article 92(2) MiCA)

• Status: No material published to date; deadline 30 June 2025
• Source: ESMA

Report from the Commission in respect of the power to adopt delegated acts referred to in Articles 3(2), 43(11), 103(8), 104(8), 105(7), 134(10), and 137(3) 

• Status: No material published to date; deadline 29 June 2026
• Source: European Commission

Report from the Commission to the European Parliament and the Council on the application of MiCA, accompanied, where appropriate, by a legislative proposal, specifying at least the information in Article 140(2)

• Status: No material published to date; interim report deadline 30 June 2025, final report deadline 30 June 2027
• Source: European Commission

Report from ESMA and the EBA, to the European Parliament and the Council, on the application of MiCA and developments in markets in cryptoassets, specifying at least the information in Article 141

• Status: No material published to date; first report deadline 31 December 2025, and annually thereafter
• Source: ESMA and EBA

Report from the Commission to the European Parliament and the Council, on the latest developments with respect to cryptoassets, in particular on matters that are not addressed in MiCA, accompanied, when appropriate, by a legislative proposal, specifying at least the information in Article 142(2) 

• Status: No material published to date; deadline 30 December 2024
• Source: European Commission