A new compliance timeline was added requiring NCAs to request order‑book data in a JSON format within six months after its publication on 28 Nov 2025.
Before
The regulation required record‑keeping for crypto‑asset service providers but did not specify a JSON format or a deadline for its use.
After
NCAs will begin requesting order‑book and trade data in a standardized JSON schema, and entities must be able to provide it within six months after the JSON specifications are published on 28 Nov 2025.
Source: ESMA — MiCA CASP Authorization & Guidance
View original source →What this means for you
Centralized Exchange
Review soonWhy this matters
As an entity that controls the order book, the CEX is directly responsible for providing the specific trade and order-book data requested by NCAs. Failure to implement the standardized JSON schema within the timeframe would result in a failure to meet regulatory reporting obligations.
What to do
Develop a data export pipeline capable of converting internal order-book and trade logs into the specified JSON schema once published.
Deadline: May 28, 2026
DeFi Protocol
Doesn't applyWhy this matters
The protocol is fully decentralized with no identifiable operator or controlling party to whom a regulatory request can be addressed. Since there is no entity managing the order book or acting as a centralized intermediary, there is no party responsible for providing data to NCAs.
Custodian
Doesn't applyWhy this matters
The company profile explicitly states that the entity is not responsible for trade execution rules and does not necessarily operate a trading venue. Since the requirement specifically targets order-book and trade data, it does not apply to a pure custody provider.