The EBA Issues An Opinion In Response To The European Commission’s Proposed Amendments To The EBA Draft Technical Standards On Conflicts Of Interests For Issuers Of Asset-Referenced Tokens

​The European Banking Authority (EBA) today published an Opinion on the amendments proposed by the European Commission (EC) to the EBA draft Regulatory Technical Standards (RTS) on conflicts of interests for issuers of asset-referenced tokens. The EBA agrees with the substantive changes proposed by the EC, which favour proportionality, as well as with the other amendments which are considered non-substantives.  ​

The draft RTS specify the requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens (ARTs) under the Markets in Crypto-Assets Regulation (MiCAR). They aim at strengthening the management of conflicts of interest by issuers of ARTs and ensure convergence of requirements across the European Union.

This Opinion is based on Article 10(1) of Regulation (EU) No 1093/2010, which requires the EBA to submit its response in the form of an opinion to amendments to draft regulatory technical standards (RTS) proposed by the European Commission.

On 5 June 2024, the EBA submitted its final draft RTS to the EC and on 29 November 2024, the EC sent a letter to the EBA about its intention to endorse the RTS with amendments and submitted a modified version of the RTS. The opinion constitutes the EBA’s response to the EC.