Consultation paper – On the draft Guidelines on the conditions and criteria for the qualification of crypto-assets as financial instruments

 

The DTI Foundation and its Product Advisory Committee responded to the European Securities and Markets Authority (ESMA) consultation paper to introduce guidelines to provide more clarity to National Competent Authorities (NCAs) and market participants about the delineation between the respective scopes of application of MiCA and MiFID.

 

The response outlines how industry-agreed ISO standards could be leveraged as an additional tool to support the qualification criteria to differentiate between MiFID II financial instruments and MiCA crypto-assets. A combination of DTI (technical token/DLT characteristics), ISIN (economic attributes of an asset) and CFI (taxonomy and classification) provides a holistic view of a crypto-asset while linking to verified reference data for market participants and regulators.

 

See the full response here.