|Publisher||European Securities and Markets Authority [ESMA]|
Report published by the European Securities and Markets Authority (ESMA) in January 2019 on initial coin offerings and crypto-assets.
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.
|Subject Categories||Business and Industry|
|Subject Tags||Financial Services|
|Keywords||Cryptoassets | Cryptocurrencies
|International Organisations||European Union [EU]|