The MFSA has, today, published a Circular informing market participants on a consultation process initiated by ESMA on the application process for permission to operate a Distributed Ledger Technology ('DLT') based market infrastructure.
Following the publication of Regulation (EU) 858/2022 on a pilot regime for DLT-based market infrastructures, ESMA has issued a Consultation Paper on the guidelines on the form and content of applications to operate such market infrastructures.
The proposed guidelines specify the minimum instructions that National Competent Authorities ('NCAs') should provide to market participants for submitting their application and as well as guidance on how such applicants should provide the requested information to NCAs.
ESMA invites market participants to furnish their comments on these proposed guidelines by the 9th September 2022.
For further information, please contact DF's financial services team at dfcs@dfadvocates.com .
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