This Commission Delegated Regulation establishes a standardized template for cooperation arrangements between EU Member States’ competent authorities and third-country supervisory authorities regarding crypto-assets markets. The regulation supplements the main Regulation 2023/1114 on markets in crypto-assets by providing detailed guidelines for information exchange and enforcement cooperation.The structure of the act consists of three main articles and an Annex. Article 1 introduces the template document, Article 2 addresses personal data transfers, and Article 3 sets the entry into force. The detailed template is provided in the Annex, which contains 11 sections covering various aspects of cooperation arrangements.The main provisions include:1. A comprehensive template for cooperation arrangements covering definitions, types of assistance, and procedures for information exchange2. Specific grounds for denying assistance requests, while prohibiting denial based solely on differences in legal frameworks3. Strict rules on confidentiality and professional secrecy for all exchanged information4. Requirements for personal data protection in compliance with GDPR5. Detailed procedures for sending and processing assistance requests6. Provisions for periodic review of cooperation arrangements7. Clear guidelines on permissible uses of exchanged information8. Requirements for designating contact points to facilitate cooperation: This regulation is particularly relevant for Ukraine as it sets the framework for future cooperation between EU authorities and third-country supervisors, which may affect Ukrainian crypto-asset market participants seeking to operate in the EU market.
Leave a comment
