FinTech Regulatory Timeline Key actions and rulings June-2024: FSB to publish consultation report on consistency of bank and non-bank supervision of cross border payments service providers Oct-2024: FSB to release report on the financial stability implications of tokenization • Basel Committee to publish report on bank and supervisory implications of the ongoing digitalization of finance (inc. AI/ML, big data, governance structures) by end-2024 • ISO/TC 307 to continue development of International Standards on blockchain and DLT to support innovation, governance and development Nov 2024: FSB to release report on the financial stability implications of Artificial Intelligence
Global
2025: •
Basel Committee GHOS agreed implementation of prudential treatment of banks’ cryptoassets by 1 Jan • FSB, with SSBs*, to review implementation of recommendations for the regulation, supervision, and oversight of cryptoasset activities and markets by end-2025
EU
2024
2025
2026
By 2026: • ESMA to report assessment of DLT Pilot regime to EC • EC to decide whether to amend, extend, make permanent, or terminate DLT Pilot Regime From 2026 • European regulations and directives to enter scope of ESAP between 2026 and 2030 Nov- 2026 • ECB to conclude digital euro preparation phase
2025: • EU to apply Regulation (EU) 2022/2554 Digital Operational Resilience Act and Amend Directive from 17 Jan 2025 • EC to finish European Digital Identity Regulation project
Q2 2024: ESMA to consult on MiCA guidelines and technical standards Q3 2024: ESMA to consult on MiCA guidelines and technical standards as well as DORA RTS, second batch of ITS and Feasibility study 2024: • EBA to develop oversight and supervisory capacity for DORA & MiCA • ESAs to deliver DORA-related policy mandates in January and July 2024 • ESMA to conclude work on technical standards and guidelines for DORA & MiCA • EC to monitor implementation of BCBS prudential treatment of cryptoasset exposures and, if appropriate, adopt a
legislative proposal by 31 December 2024 to transpose standards into Union law 2024-2026: EIOPA to implement DORA, the AI Act & ESAP and focus on policy work
Notes: *SSB: standard-setting bodies See also: European Commission Digital Finance Package This information is provided by ICMA for information purposes only and should not be relied upon as legal, financial or other professional advice. While the information contained herein is taken from sources believed to be reliable, ICMA does not represent or warrant that it is accurate or complete and neither ICMA nor its employees shall have any liability arising from or relating to the use of this publication or its contents
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