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Markets in Crypto-Assets Regulation - Regulation (EU) 2023/1114 RCSA Template (EUR-Lex RCSA)

📃 Markets in Crypto-Assets Regulation RCSA Template

The Markets in Crypto-Assets Regulation (EU) 2023/1114 is crucial as it establishes a comprehensive legal framework for the regulation of crypto-assets within the European Union. It aims to enhance market integrity, protect investors, and foster innovation while addressing potential risks associated with the digital asset market.

Summary:

📌 The Markets in Crypto-Assets Regulation is a regulation that requires the establishment of rules to regulate crypto-assets, protect consumers, prevent market abuse, and promote regulatory harmonization across the EU.

🎯 Audience:

  1. Crypto-asset issuers
  2. Crypto-asset service providers
  3. Retail investors

🔹 Key Points:

  1. Consumer Protection: Ensures that retail holders of crypto-assets receive adequate disclosure of risks, characteristics, and their rights related to crypto-assets to protect them from misleading information.
  2. Market Integrity: Establishes rules to deter market abuse, ensuring fair trading practices and protecting the integrity of crypto-asset markets.
  3. Regulatory Harmonization: Aims at creating a unified regulatory landscape across EU member states for crypto-assets, addressing issues of regulatory fragmentation that currently exist.
  4. Risk Management: Addresses the principle-based approach to managing risks associated with crypto-assets, including market abuse and financial crime.
  5. Transparency Requirements: Mandates issuers and service providers to disclose relevant information clearly and transparently, thus promoting accountability and informed decision-making.
  6. ESMA Oversight: Empowers the European Securities and Markets Authority (ESMA) to supervise and regulate aspects of crypto-assets, ensuring compliance with EU regulations.
  7. Sustainability Considerations: Recognizes the environmental implications of crypto-assets and mandates disclosures related to sustainability and the impact of consensus mechanisms.
  8. Customary Languages: Specifies that important documents, such as the crypto-asset white paper, must be provided in official EU languages to ensure accessibility.
  9. Authorization Framework: Sets out requirements for obtaining authorization to issue or trade crypto-assets, ensuring that only compliant entities participate in the market.
  10. Regulatory Agility: Calls for regulations to be adaptable to rapidly evolving technological and market developments within the crypto-asset sphere.

GRC Library has processed the Markets in Crypto-Assets Regulation and created a comprehensive RCSA template to assist you with compliance implementation and internal auditing.

We hope this RCSA template will save you time in preparing for the Markets in Crypto-Assets Regulation compliance journey.

This detailed RCSA template includes:

✅ 690 risks for reference
✅ 322 controls across different articles
✅ Business Process associated with each risk
✅ High-level implementation guidance
✅ Requirement statements for each control

This is a comprehensive resource for compliance implementation and internal auditing reference.

Reference URL:
https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114


Reference URL: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114

Updated: 2024-08-16 09:48:09
Created: 2024-08-15 11:21:07

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