ESMA guidelines on the conditions and criteria for the qualification of cryptoassets as financial instruments

The European Securities and Markets Authority (ESMA) has published official translations of its guidelines on the conditions and criteria for the qualification of cryptoassets as financial instruments under Article 2(5) of the Markets in Cryptoassets Regulation (MiCAR). The guidelines will now apply from 18 May to competent authorities and financial market participants including issuers, offerors, cryptoasset service providers, investors and all persons engaging in activities relating to cryptoassets. National competent authorities must notify ESMA whether they comply, do not comply but intend to comply, or do not intend to comply with the joint guidelines by 18 May. Financial market participants are not required to report whether they comply.

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