LCX Implements Conflict of Interest Free Crypto-ESG Data from Crypto Risk Metrics
- Conscious decision to obtain data from neutral third parties in order to prevent possible greenwashing
- Early compliance with Markets in Crypto-Assets Regulation is of great importance for regulated market participants
- Other jurisdictions likely to follow
Frankfurt am Main, December 6th, 2024. With LCX, the Liechtenstein Cryptoassets Exchange, Crypto Risk Metrics wins another reputable player in the digital assets space. LCX is a regulated cryptocurrency exchange and fintech company based in Liechtenstein, specializing in tokenization, compliance, and innovative blockchain solutions.
LCX is one of Europe’s fastest growing regulated crypto exchanges. It is dedicated to building a bridge between traditional finance and the fast-evolving world of digital assets, ultimately delivering Freedom of Wealth to LCX’s users.
Why LCX relies on ESG data
Monty Metzger, CEO of LCX AG, states: “As a MiCAR-ready company, we recognize that integrating ESG data is a vital component of our licensing process. We have deliberately chosen to obtain ESG data for cryptocurrencies from Crypto Risk Metrics, a neutral and highly specialized third-party provider. After conducting a thorough due diligence process, we determined that CRM surpasses our stringent requirements. Their robust methodology, which incorporates German TÜV-certified measurements and a steadfast commitment to accuracy and compliance, ensures the highest level of reliability for our sustainability data needs.”
Tim Zölitz, CEO of Crypto Risk Metrics, adds: “We are especially proud to have been chosen by LCX as they have been playing by the rulebook since the inception, treating digital assets just like every other established asset class. In light of the worldwide developments, we are expecting more and more jurisdictions to demand ESG disclosures.”
What does MiCAR mean for CASPs in terms of ESG data?
The Markets in Crypto-Assets Regulation (MiCAR) requires so-called Crypto Asset Service Providers (CASPs) to report different ESG metrics from December 30th, 2024. As a leading data provider in this area, Crypto Risk Metrics is, for example, the exclusive ESG data provider of the ISO 24165 issuing body for the Digital Token Identifier Foundation and cooperates with leading data providers for easy integration into the systems.
Source: Press release Crypto Risk Metrics
To gain a deeper understanding of the ESG disclosure requirements under the MiCAR regulation, explore our article on ESG Disclosure Requirements for Crypto-Asset Service Providers in Europe – Everything You Need to Know.
For further reading on our recent developments and partnerships, check out the following articles:
