ESMA_QA_2397

Status: ✅ Answer Published

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Regulatory Context

Level 1 Regulation: MiCA

Topic: Crypto-Asset Service Provider (CASP)

Subject Matter: Registered AIFM and MICA

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Question

Submission Date: 10-01-2025

sub-threshold) Alternative Investment Fund Managers referred to in Article 3(2) AIFMD (Directive 2011/61/EU) ?

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ESMA Answer

Answer Date: 07-04-2025

Article 60(5) provides that “A UCITS management company or an alternative investment fund manager may provide crypto-asset services equivalent to the management of portfolios of investment and non-core services for which it is authorised [emphasis added] under Directive 2009/65/EC or Directive 2011/61/EU if it notifies the competent authority of the home Member State of the information referred to in paragraph 7 of this Article at least 40 working days before providing those services for the first time.”

Alternative investment fund managers referred to in Article 3(2) of the AIFMD are exempt from authorisation under the AIFMD – they are instead simply registered. As such they may not provide crypto-asset services on the basis of a notification under Article 60(5) of MiCA.

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This document was automatically extracted from the ESMA EMIR Q&A database.