The European Securities and Markets Authority (ESMA) has suggested new guidelines to assess the qualifications of encrypted asset service providers under markets to regulate encrypted parts (MICA) to enhance the best services in Europe.
Europe to evaluate the qualifications of the encryption service providers
#Smaa Consultation was launched on the criteria for assessing knowledge and efficiency #CryPtoassets Or encrypted asset services.
Send your comments by April 22, 2025 → https://t.co/9t4at6mkzf. pic.twitter.com/nfuy7iv6dz
ESMA – ESMACOMMS February 17, 2025
Project guidelines, open to the public Consultation Until April 22, 2025, he called for encryption services providers to assess the knowledge and efficiency of their employees regularly.
The guidelines require that employees have a strong understanding of the features of encryption assets, Blockchain technology, market operations, and organizational and civil scene. Service providers must keep records of employee qualifications, conduct annual assessments, and ensure that employees continue to develop their professional.
It is worth noting that the ESMA goal is to set clear and consistent criteria for those who advise customers in encryption investments, and to promote investor protection and trust in the market. These guidelines emphasize the importance of employees’ awareness of the risks related to complex and volatile encryption assets.
Nowadays, ESMA seeks to obtain notes on the guideline project, with expected final recommendations by the third quarter of 2025. This step is part of the wider European Union effort to regulate the encryption sector, as companies seek to secure licenses to comply with MICA. In fact, OKX and Bitpanda recently announced their X accounts that both have obtained their MICA licenses. OKX announced that it is the first global encryption exchange for this license.
Last week, Crypto.com, a famous encoded currency exchange, had obtained the approval of Mika from the European Union.
Also read: Mika is a valid in Europe, but the future of Usdt is still uncertain
