Regulatory Alerts2025-04-30
Added · Updated
CSSF Circular 25/887: Application of ESMA Guidelines on Third-Country Crypto Solicitation and Reverse Solicitation Exemption
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 25/887 to implement the European Securities and Markets Authority (ESMA) guidelines regarding third-country firms soliciting EU clients under the Markets in Crypto Assets Regulation. The document outlines specific supervision practices designed to detect and prevent the circumvention of the reverse solicitation exemption for crypto-asset service providers. It mandates that regulated entities adhere to these standards to ensure compliance with EU regulatory requirements when interacting with clients established or situated within the European Union.
Published on 30 April 2025
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CSSF circular
Application of the Guidelines of the European Securities and Markets Authority on situations in which a third-country firm is deemed to solicit clients established or situated in the EU and the supervision practices to detect and prevent circumvention of the reverse solicitation exemption under the Markets in Crypto Assets Regulation (ESMA35-1872330276-2030)
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