MiCA will also impose reporting requirements on entities carrying out crypto-asset activities. Issuers of stablecoins not pegged to the euro with an issuance value of more than € million must report certain information. Providers of trading platforms must make information publicly available, and they must give public authorities access to data.
Enhanced monitoring arrangements apply to “significant” service providers (with at least 15 million active users). With the international approach of regulation and containment, we are on the right track – but significant gaps remain.