EDINBURGH, Scotland and LONDON, Sept. 25, 2024 /PRNewswire/ — Zumo, the B2B digital assets infrastructure, has launched a new out-of-box feature that enables crypto-asset service providers (CASPs) active in the European Union (EU) to comply with the upcoming sustainability requirements of the Markets in Crypto-Assets (MiCA) regulation.
Recent industry research has suggested that more than 80% of CASPs may be unaware of the need to report sustainability indicators from ESMA’s end-of-year deadline.
Under new rules, CASPs with a EU client footprint – including exchanges, brokerages, custodians and trading firms – will need to provide a compliant website disclosure covering the environmental impact of offered crypto-assets from 30 December 2024.
Amidst a flurry of incoming requirements, Zumo’s new Oxygen MiCA compliance module will help CASPs across the EU to streamline and simplify their sustainability compliance through auto-generated MiCA website disclosure reports, and allows CASPs to easily access MiCA-compliant sustainability metrics for their listed crypto-assets.
The solution draws on best-in-class sustainability data from Crypto Carbon Ratings Institute (CCRI), one of Zumo’s strategic partners, and further builds on Zumo’s Oxygen proposition, first introduced to help providers of crypto-asset services better align their digital asset activities with net zero principles.
Nick Jones, Founder and CEO, Zumo, said: “MiCA’s sustainability requirements are going live to a tight deadline, and bring with them complex data questions and unfamiliar compliance requirements at a time when the industry is already having to confront a wide range of new operational mandates.”
“It’s become clear that CASPs across Europe simply aren’t ready. With our MiCA solution, we’re removing one small headache by providing the single interface that helps CASPs cut through the hassle of pulling sustainability data together, formatting an appropriate template, and providing the output that ESMA is looking for.”
“It’s another important step on our sustainability journey to develop the tools that will enable service providers to comply with current and future sustainability compliance requirements.”
Zumo is widely seen as a pioneer for its sustainability work in the digital assets sphere. The company was a member of the World Economic Forum’s Crypto Sustainability Coalition, recently signed the Abu Dhabi Sustainable Finance Declaration and has been recognised via a number of prestigious awards programmes.
Logo – https://mma.prnewswire.com/media/2514072/Zumo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/zumo-helps-crypto-asset-service-providers-breathe-easier-ahead-of-deadline-for-mica-sustainability-disclosures-302257412.html
