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ESMA: “Crypto-assets need Common EU-wide Approach to Ensure Investor Protection

Cryptocurrency Regulation

Yesterday, the European Securities and Markets Authority (ESMA) published its “Advice to the European Union (EU) Institutions Commission, Council and Parliament – on initial coin offerings and crypto-assets. The Advice clarifies the existing EU rules applicable to crypto-assets that qualify as financial instruments, and provides ESMA’s position on any gaps and issues in the current EU financial regulatory framework for consideration by EU policymakers”.

ESMA has been working with NCAs (National Competent Authorities) on analysing the various risks, business models and potential benefits of crypto-assets, as well as how the existing regulatory framework could include them. This work also includes a 2018 survey of NCAs.

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