Delegated Regulation under MiCAR on liquidity management for ARTs and EMTs published in OJ

Delegated Regulation 2025/1264 supplementing Regulation (EU) 2023/1114 (Markets in Crypto Assets Regulation) has been published in the Official Journal of the European Union. The Delegated Regulation (adopted by the European Commission on 27 June) sets out regulatory technical standards (RTS) specifying the minimum contents of the liquidity management policy and procedures for certain issuers of asset-referenced tokens and e-money tokens. The RTS aim to ensure that issuers maintain robust liquidity frameworks capable of withstanding both normal and stressed market conditions. The Regulation enters into force on 23 October.

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