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On 29 January 2024, the European Securities and Markets Authority (ESMA) opened a consultation under the Markets in Crypto Assets Regulation (MiCA) until 29 April 2024. The consultation aims to gather insights on guidelines under consideration by ESMA, aiming for greater consistency in interpreting and supervising situations where a third-country firm is perceived to solicit clients in the Union. Additionally, the guidelines aim to promote uniform supervision and prevent abuse of Article 61 of MiCA, outlining practices to detect and prevent circumvention. These guidelines focus on solicitation methods, individuals soliciting, the client's exclusive initiative, and conditions for marketing similar crypto-assets, emphasising a comprehensive interpretation of solicitation means. To counter evasion, the guidelines advocate monitoring entities, collaborating with other authorities, and responding to client complaints or whistle-blowers.
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