CySEC issues Policy Statement PS-03-2024 on Fees and Reporting under MiCAR
On the 16th of December 2024, the Cyprus Securities and Exchange Commission (CySEC) has published its Policy Statement PS-03-2024, outlining the fees payable and information to be reported by entities under the Markets in Crypto-Assets Regulation (MiCAR).
The policy applies to offerors and persons seeking admission to trading of crypto-assets, issuers of asset-referenced tokens (ART), and Crypto-Asset Service Providers (CASP), providing clarity for entities preparing to comply with MiCAR.
Key Points from CySEC’s PS-03-2024
- Fee categories:
The policy introduces various fees, including application, notification, supervision and authorisation fees. These depend on the type of activity, such as:
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- Submitting crypto-asset white papers.
- Annual supervision based on service types and business activity levels.
- Applications for authorisation as an issuer or CASP.
- Reporting Requirements:
Entities must submit detailed information on policies, governance frameworks, and financial reporting, including revenue breakdowns specific to crypto-asset services. - Transitional Period:
Entities registered under current national frameworks must apply for full authorisation under MiCAR subject to the grandfathering period, ensuring compliance with the new regulatory regime.
SALVUS Supports Your Compliance Journey
At SALVUS, we are ready to assist all interested parties in complying with CySEC’s new MiCAR requirements. Our services include:
- Preparing and submitting applications and notifications.
- Developing tailored policies aligned with MiCAR standards.
- Acting as your official representative and managing all communications with CySEC.
The SALVUS Crypto-Assets Licensing team’s experience and proven expertise ensure a smooth and efficient process, enabling you to focus on growing your business in the evolving crypto-asset space.
If you require more information or assistance regarding the application process and requirements, please contact our Crypto-Assets Licensing team at info@salvusfunds.com; We are here to support you and address any questions you may have.
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