Advice Initial Coin Offerings and Crypto-Assets

Publication Date 09/01/2019
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Report published by the European Securities and Markets Authority (ESMA) in January 2019 on initial coin offerings and crypto-assets.

Further information:

The Advice clarifies the existing EU rules applicable to crypto-assets that qualify as financial instruments, as provides ESMA's position on any gaps and issues in the existing EU financial regulatory framework for consideration by EU policymakers.

ESMA worked with National Competent Authorities (NCAs) on analysing the different business models of crypto-assets, the risks and potential benefits that they may introduce, and how they fit within the existing regulatory framework. Based on this work, including a survey of National Competent Authorities (NCAs) during 2018, ESMA identified a number of concerns in the current financial regulatory framework regarding crypto-assets.

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Related Links
EurActiv, 11.01.19: Cryptoasset investors exposed to substantial risks, two EU reports find
CryptoNews, 09.01.19: EU to Increase Scrutiny on Crypto This Year

ESMA: Press Release, 09.01.19: Crypto-assets need common EU-wide approach to ensure investor protection

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