The European Banking Authority published an Opinion responding to the European Commission’s proposed amendments to the EBA draft Regulatory Technical Standards on conflicts of interests for issuers of asset-referenced tokens under the Markets in Crypto-Assets Regulation. The EBA agrees with the Commission’s substantive changes, which favour proportionality, and considers the remaining amendments to be non-substantive. The draft standards set requirements for issuers’ policies and procedures to identify and manage conflicts of interest, with the aim of strengthening conflict management and supporting consistent requirements across the European Union. The EBA noted it developed the draft RTS in light of recent reports of governance failures in the global crypto-asset market relating to conflicts of interest, as well as approaches used in the traditional EU financial sector to mitigate such risks. The Opinion is issued under Article 10(1) of Regulation (EU) No 1093/2010, following the EBA’s submission of its final draft RTS to the Commission on 5 June 2024 and the Commission’s 29 November 2024 indication of its intention to endorse the RTS with amendments.
European Banking Authority 2025-02-05
European Banking Authority supports European Commission proportionality amendments to conflicts of interest standards for asset-referenced token issuers
The European Banking Authority (EBA) supports the European Commission's proposed amendments to the EBA draft Regulatory Technical Standards on conflicts of interest for issuers of asset-referenced tokens under the Markets in Crypto-Assets Regulation. The EBA agrees with the Commission's substantive changes, emphasizing proportionality, and views the remaining amendments as non-substantive. The draft standards aim to enhance conflict management and ensure consistent requirements across the EU, addressing governance failures in the crypto-asset market.