Source: OJ L 150, 9.6.2023, pp. 40–205Current language: EN
- Markets in crypto-assets
Basic legislative acts
- MiCA regulation
Article 145 Amendment to Regulation (EU) No 1095/2010
Summary What does Article 145 of the MiCA regulation say?
This is an amending article, meaning it does not stand alone but instead modifies an existing piece of EU legislation — specifically Regulation (EU) No 1095/2010, which established the European Securities and Markets Authority (ESMA).
The article updates the description of ESMA's scope of action to formally include this regulation (MiCA) alongside its existing list of mandating legislation.
In practical terms, this means ESMA's authority now explicitly extends to crypto-asset issuers, offerors, persons seeking admission to trading, and crypto-asset service providers, as well as the competent authorities that supervise them.
Important points:
- ESMA's mandate is formally extended to cover MiCA, placing crypto-asset market participants within its supervisory scope.
- The extension of ESMA's powers applies to the extent that the listed acts govern firms providing investment services, collective investment undertakings, and crypto-asset market participants and their supervisors.
- This article connects directly to the broader architecture of MiCA, complementing Article 144 which makes the equivalent amendment to EBA's founding regulation.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
In Article 1(2) of Regulation (EU) No 1095/2010, the first subparagraph is replaced by the following:
‘The Authority shall act within the powers conferred by this Regulation and within the scope of Directives 97/9/EC, 98/26/EC, 2001/34/EC, 2002/47/EC, 2004/109/EC, 2009/65/EC, Directive 2011/61/EU of the European Parliament and of the Council(56), Regulation (EC) No 1060/2009 and Directive 2014/65/EU of the European Parliament and of the Council(57), Regulation (EU) 2017/1129 of the European Parliament and of the Council(58), Regulation (EU) 2023/1114 of the European Parliament and of the Council(59) and to the extent that those acts apply to firms providing investment services or to collective investment undertakings marketing their units or shares, issuers or offerors of crypto-assets, persons seeking admission to trading or crypto-asset service providers and the competent authorities that supervise them, within the relevant parts of, Directives 2002/87/EC and 2002/65/EC, including all directives, regulations, and decisions based on those acts, and of any further legally binding Union act which confers tasks on the Authority.
Relevant recitals
Recital 116 Amending ESA regulations for new mandates
Given that EBA should be mandated with the direct supervision of issuers of significant asset-referenced tokens and of significant e-money tokens, and ESMA should be mandated to make use of its powers in relation to significant crypto-asset service providers, it is necessary to ensure that EBA and ESMA are able to exercise all of their powers and tasks in order to fulfil their objectives of protecting the public interest by contributing to the short-, medium- and long-term stability and effectiveness of the financial system for the Union economy, its citizens and businesses and to ensure that issuers of crypto-assets and crypto-asset service providers are covered by Regulations (EU) No 1093/2010 and (EU) No 1095/2010. Those Regulations should therefore be amended accordingly.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.
Definition
placing of crypto-assets
Definition
official currency
Definition
distributed ledger
Definition
reception and transmission of orders for crypto-assets on behalf of clients
Definition
exchange of crypto-assets for funds
Definition
consensus mechanism
Definition
operation of a trading platform for crypto-assets
Definition
e-money token
Definition
crypto-asset service
- providing custody and administration of crypto-assets on behalf of clients;
- operation of a trading platform for crypto-assets;
- exchange of crypto-assets for funds;
- exchange of crypto-assets for other crypto-assets;
- execution of orders for crypto-assets on behalf of clients;
- placing of crypto-assets;
- reception and transmission of orders for crypto-assets on behalf of clients;
- providing advice on crypto-assets;
- providing portfolio management on crypto-assets;
- providing transfer services for crypto-assets on behalf of clients;
Definition
offer to the public
Definition
providing advice on crypto-assets
Definition
offeror
Definition
execution of orders for crypto-assets on behalf of clients
Definition
crypto-asset service provider
Definition
crypto-asset
Definition
DLT network node
Definition
funds
Definition
client
Definition
asset-referenced token
Definition
issuer
Definition
exchange of crypto-assets for other crypto-assets
Definition
electronic money token
Definition
providing custody and administration of crypto-assets on behalf of clients
Definition
providing transfer services for crypto-assets on behalf of clients
Definition
distributed ledger technology
Definition
competent authority
- designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;
- designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens;
Footnote 59
Footnote 58
Footnote 56
Footnote 57