Art. 3 Record-keeping of the crypto-asset service provider’s policies and procedures | RTS on record keeping | MiCA

This article sets out record-keeping obligations for crypto-asset service providers specifically concerning their internal policies and procedures.

Beyond simply retaining the written policies themselves, it extends the requirement to also capture the ongoing governance activity around those policies, namely the management body's assessments and periodic reviews of their effectiveness, findings of any deficiencies, and the measures taken to address them.

Important points:

Keep records of all written policies and procedures required under Regulation (EU) 2023/1114 and its implementing measures.
Keep records of the management body's periodic reviews of the effectiveness of those policy arrangements and procedures.
Document any deficiencies identified during those reviews, along with the measures taken to address them.

Crypto-asset service providers should be free to determine the manner in which they keep records of relevant data relating to all orders and transactions in crypto-assets. However, consistent and comparable records on services, activities, orders and transactions are essential for competent authorities to fulfil their supervisory tasks and to take enforcement measures. In particular, competent authorities should be able to perform the same analysis on all record datasets, regardless of which crypto-asset service provider produced the record. Crypto-asset service providers should therefore provide consistent details of the records on services, activities, orders and transactions by using uniform standards where a competent authority requests such information pursuant to Article 94 of Regulation (EU) 2023/1114. For the same reasons, it is necessary to specify that the records should be maintained in a medium allowing effective supervision by competent authorities.

Article 3 Record-keeping of the crypto-asset service provider’s policies and procedures

Relevant recitals