Knowledge and competence of staff providing information on crypto-assets – ESMA criteria published

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The European Securities and Markets Authority (ESMA) has issued new guidelines explaining what staff at crypto‑asset service providers (CASPs) need to know before they can give information or advice under the Markets in Crypto‑Assets Regulation (MiCA).

The guidelines:

  • Set a minimum standard of knowledge and skills.
    They give clear examples of the kind of qualifications or work experience employees should have.

  • Cover crypto‑specific issues and risks.
    Staff must understand things like the high price swings common in crypto‑assets and the danger of cyberattacks.

In short, CASP employees who talk to clients about crypto‑assets must prove they have the right expertise and are aware of the special risks in this market.

The guidelines will help CASPs to meet their obligations and act in the best interest of their clients. They also support competent authorities in adequately assessing how CASPs meet these obligations. The objective is to enhance investor protection and trust in the crypto-asset markets.

ESMA conducted a public consultation on these guidelines to gather the views of stakeholders, including the Securities and Markets Stakeholder Group (SMSG). The final report includes feedback to the comments received during the consultation.

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Final Report on the Guidelines for the criteria on the assessment of knowledge and competence under MiCA

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https://www.esma.europa.eu/press-news/esma-news/knowledge-and-competence-staff-providing-information-crypto-assets-esma

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Final Report on the Guidelines for the criteria on the assessment of knowledge and competence under MiCA

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