Europe proposes crypto entity suitability guidelines
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have published a joint document that contains crypto entity suitability guidelines. Two projects from the paper involve assessing the suitability of members of management boards and shareholders or participants who hold significant stakes in asset-linked token (ART) issuers and crypto asset service providers (CASPs). The two agencies offer guidance to evaluate the suitability of shareholders or participants holding significant stakes in ART or CASP issuers. You might also like: EU finance ministers green light MiCA crypto regulation The new proposals aim to protect the integrity and instill confidence in the crypto currency market and related services while minimizing the potential for discrepancies in the application of rules and arbitration. However, the consultation period remains open until January 22, 2024. Before this, the European Union’s banking regulator called o...