The European Banking Authority (EBA) has released the final draft of the Regulatory Technical Standards (RTS) for handling complaints received by issuers of asset reference tokens (ARTs) under the Markets in Crypto-Assets (MiCA) regulation. The EBA collaborated closely with the European Securities and Markets Authority (ESMA) in developing the requirements, templates, and procedures necessary for effectively managing complaints related to stablecoins.

The draft RTS cover a range of aspects regarding complaints handling. They include guidelines for the complaints management policy and function, the provision of information to stablecoin holders and other interested parties, templates and recordings, languages, procedures for investigating complaints, and communication of the investigation outcomes to complainants. Specific provisions are outlined for complaints handling involving third-party entities. These comprehensive guidelines aim to establish a fair and transparent process for dealing with complaints in relation to stablecoin issuers.

During the public consultation period the proposed approach by the EBA received overall support from respondents who considered it to be appropriately balanced. However, some respondents suggested a more uniform approach to complaints handling between the EBA's RTS and the equivalent RTS by ESMA for the crypto asset service provider sector.

Taking into account the responses received, the EBA has made targeted amendments to the draft RTS in order to add clarity and align more closely with ESMA's RTS. The amendments primarily focus on requirements related to languages, data protection, and the procedure for submitting an electronic complaint. These changes aim to address the suggestions put forward during the public consultation period and ensure consistency between the two authorities.