GBBC Submits Response to ESMA75-453128700-1002 Consultation

GBBC is delighted to share our consultation response to European Securities and Markets Authority (ESMA)’s Consultation on the Technical Standards specifying certain requirements of MiCA (3rd package). GBBC welcomes ESMA’s work in establishing robust guidelines, standards and procedures which contribute to investor protection, market confidence and prevent market abuse.

Read the full response here.

This consultation response focuses on the guidelines and technical standards proposed by ESMA. Our analysis addresses several key issues, including the scope of Article 92, identifying and defining PPAETs, and considering whether miners, validators, and CASPs should be encompassed by the regulation.

Through the process of consolidating the different perspectives from around Europe, we stress the necessity of effective cross-border regulatory coordination and adherence to global standards ensuring that EU regulations maintain market integrity and investor confidence. We advocate for amendments to the draft guidelines to enhance risk disclosures, security measures, and investor education.

A huge thank you to the GBBC members that contributed to this response, and to GBBC’s Dimitrios Psarrakis and Adrian Matak.