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. It supplements the main Regulation 2023/1114 on markets in crypto-assets by providing detailed guidelines for information exchange and enforcement cooperation.
The act consists of three main articles and an extensive annex. Article 1 introduces the template document, Article 2 addresses personal data transfers, and Article 3 sets the entry into force. The Annex provides a detailed template structure with 11 sections covering various aspects of cooperation arrangements.
Key provisions include:
1. A standardized template for cooperation arrangements that covers definitions, types of assistance, procedures for requests, and confidentiality requirements
2. Specific grounds for denying assistance requests, while prohibiting denial based solely on differences in legal frameworks
3. Strict rules on personal data protection in compliance with GDPR (Regulation 2016/679)
4. Detailed confidentiality requirements for all exchanged information
5. Mandatory designation of contact points and periodic review of cooperation arrangements
6. Clear guidelines on permissible uses of exchanged information
7. Requirements for obtaining prior consent for using information beyond stated purposes
8. Provisions for mutual assistance in enforcement actions, including asset freezing and cessation of illegal practices
The template ensures consistency in international cooperation while maintaining necessary safeguards for data protection and confidentiality.
: This regulation has implications for Ukraine as it affects potential cooperation arrangements between EU authorities and Ukrainian supervisory authorities in the crypto-assets market, particularly relevant for Ukraine’s European integration process and alignment with EU financial regulations.
