European Banking Authority, ESMA issue crypto entity suitability guidelines

These drafts incorporate the evaluation of the viability of management body members and investors or members holding certifying stakes in issuers of asset-referenced tokens (ARTs) and crypto-asset service providers (CASPs). The proposed joint guidelines for evaluating the suitability of investors or members, whether direct or indirect, holding certifying stakes in ART or CASP providers, offer regulatory bodies a shared method for assessing their suitability. Source: The European Banking AuthorityTo protect the stability and support of the cryptocurrency market and its involved services, and to instill trust, it is important to ascertain the viability of both the management body members of ART and CASP companies and people looking for to hold or get qualifying stakes in them.The standards laid out in these drafts aim to use clearness and standardization in assessing the suitability of the management body, shareholders, and members holding certifying stakes.

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