Read the CySEC Circular C696
Memo #22-2025
CySEC Circular No: C696
Date: 31/03/2025
Subject: Joint EBA and ESMA Guidelines on the assessment of the suitability of (i) the members of the management body of issuers of asset-referenced tokens and of crypto-asset service providers and (ii) the shareholders or members, whether direct or indirect, with qualifying holdings in issuers of asset-referenced tokens or of crypto-asset service providers
Purpose: To inform issuers and applicant issuers of asset-referenced tokens, crypto-asset service providers and applicant crypto-asset service providers for the EBA and ESMA joint Guidelines on the assessment of the suitability.
In Summary:
CySEC has issued the Circular C696 on 28/03/2025 to inform the issuers and applicant issuers of asset-referenced tokens (“ARTs”), as defined in points 6, 10 and 11 of Article 3(1) of Regulation (EU) 2023/1114 (“MiCA Regulation”), and the crypto-asset service providers (“CASPs”) and applicant CASPs as defined in point 15 of Article 3(1) of MiCA Regulation, and are authorised or have submitted an application for authorisation in accordance with Article 63 of MiCA Regulation, or– with reference to Article 68(1) of MiCA providing crypto-asset services as part of their authorisation in accordance with paragraphs (2), (4), (5) and (6) of Article 60 of MiCA, for the joint Guidelines of the European Banking Authority (“EBA”) and the European Securities and Markets Authority (“ESMA”) on the assessment of the suitability, which were issued on 12/12/2024.
CySEC informs that it has adopted the above mentioned joint Guidelines.
The Guidelines are issued pursuant to Article 16 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC and Article 16 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Securities and Market Authority (European Securities and Market Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC and apply at authorisation and on an ongoing basis.
CySEC notes that the Guidelines apply from 04/02/2025.
Read the CySEC Circular C696
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