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Many European Union Cryptocurrency Entities May Not Know the Right Deadline for Sustainability Disclosures Under MiCA

The European Union's crypto asset regulation, the Crypto Asset Markets Regulation (MiCA), became law in 2023. MiCA sets licensing requirements for cryptocurrency issuers and service providers, including exchange platforms, and stablecoin rules came into effect in June. However, Rowan Varrall, deputy director of the DTI Foundation, explained that issuers of asset reference tokens (ART) and electronic money tokens (EMT) will have to make sustainability disclosures from June 30, 2024, while crypto-asset service providers will have to start setting disclosure requirements by the end of the year. Part of the rule is the reporting requirements for ESG data. Although regulators have made specific clarifications, confusion about the correct deadline may simply be a matter of interpretation.