- Zumo crypto has introduced a preconfigured solution to help EU crypto-asset service providers (CASP) comply with MiCA sustainability regulations
- Over 80% of CASPs may be unaware of the need to report sustainability indicators by the end of the year
- The solution simplifies compliance with automatic reporting, leveraging data from the Crypto Carbon Ratings Institute
Zumo, the B2B digital asset infrastructure, has launched a new preconfigured solution that allows crypto-asset service providers (CASP) operating in the European Union (EU) to comply with the sustainability requirements set forth by the Markets in Crypto-Assets Regulation (MiCA).
Recent research in the sector suggests that over 80% of CASPs may be unaware of the need to report sustainability indicators by the end of the year set by ESMA.
New Compliance Requirements for CASPs in the EU
According to the new rules, CASPs operating in the EU— including exchanges, brokers, custodians, and trading companies— will need to provide a compliance statement on their website regarding the environmental impact of the crypto-assets offered starting from December 30, 2024.
Among the numerous upcoming requirements, Zumo’s Oxygen solution will help CASPs across the EU simplify compliance with sustainability through automatically generated MiCA-compliant disclosure reports and will allow CASPs to easily access MiCA-compliant sustainability metrics for the listed crypto-assets.
The solution is based on top-tier sustainability data provided by the Crypto Carbon Ratings Institute (CCRI), one of Zumo’s strategic partners, and further strengthens Zumo’s Oxygen offering, originally introduced to help crypto-asset service providers better align their operations with zero-emission goals.
Nick Jones, founder and CEO of Zumo, stated that the sustainability requirements of MiCA are about to come into effect with a tight deadline and bring with them complex data issues and compliance requirements when the industry is already facing a wide range of new operational mandates
“It is now clear that CASPs across Europe are simply not ready. With our MiCA solution, we are eliminating a small headache by providing a single interface that helps CASPs overcome the challenge of collecting sustainability data, formatting an appropriate model, and providing the result that ESMA is looking for.“
“It represents another important step in our journey towards sustainability to develop tools that enable service providers to comply with current and future sustainability requirements.”
Conclusion
Zumo is widely regarded as a pioneer for its work on sustainability in the digital asset sector. The company has been a member of the Crypto Sustainability Coalition of the World Economic Forum, recently signed the Abu Dhabi Sustainable Finance Declaration, and has received recognition in numerous prestigious award programs.
